New homeownership rates by race and region
FRED recently added U.S. Census Bureau data on homeownership rates by race. The rates for each group, shown in the top graph, basically reflect the groups’ positions in the wealth distribution.
Changes in the homeownership rate are driven by small seasonal factors and longer trends. There was a decrease for all groups after 2006, which could reasonably be attributed to the Financial Crisis. Rates rebounded soon after for all groups except African Americans, whose rate has trended down pretty steadily since then.
This last fact could be due to regional differences: That is, homeownership rates could be decreasing in certain geographical areas where more African Americans live. The graph below shows very large sections of the country (Census regions), but doesn’t indicate any steady declines in any areas, including the South. So something else is at work that simply isn’t visible here.
How these graphs were created: On the Housing and Homeownership release table, select the series you want displayed and click “Add to Graph.”
Suggested by Christian Zimmermann.