Highlights From State of the Nation’s Housing Report

Highlights From State of the Nation’s Housing Report

The Joint Center for Housing Studies at Harvard released its annual State of the Nation’s Housing Report this week. Here are a few highlights:

  • The homeownership rate for households aged 65+ fell slightly from 79.5 percent in 2021 to 79.1 percent in 2022. A decade ago, the 65+ homeownership rate was 81.1 percent.
  • The number of households aged 65+ increased from 24.2 million in 2011 to 34.9 million in 2022, now representing a third of all households.
  • On an annual basis, home prices rose two percent year over year in February 2023, down sharply from their peak rate of 20.8 percent annual growth in March 2022.
  • Aggregate homeowner equity in the U.S. totaled a near-record $31 trillion in the fourth quarter of 2022, up 33 percent ($7.7 trillion) in real terms since the start of the pandemic.

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Darryl Hicks

Darryl Hicks is Vice President of Communications for the National Reverse Mortgage Lenders Association. In this capacity, Hicks writes for NRMLA's publications, manages the association's web sites and social media accounts, assists committees and the Board of Directors, and manages the Certified Reverse Mortgage Professional designation. Prior to joining NRMLA in 1999, Hicks spent three years in the Washington, D.C. bureau for National Mortgage News.