The Department and the Census Bureau last week released data that shows the national homeownership rate for the first quarter of 2004 tied the record rate of 68.6 percent originally set in the fourth quarter of 2003.
There were some 72.7 million homeowners in the first quarter of 2004, an increase of 16,000 from the fourth quarter of 2003, and an increase of 1.02 million from the first quarter of 2003.
Moreover, a majority of minority households continue to be homeowners, reaching a quarterly record of 50.8 percent in the first quarter of 2004, up 0.2 percentage points from the fourth quarter of 2003. There are now 14.8 million minority homeowners, up 8,000 from the fourth quarter and up 637,000 from the first quarter of 2003.
The numbers are a clear indicator the President's goal to increase the nation's homeownership rate is having a real impact across the country, Secretary Jackson noted in a statement. He also said the Administration is committed to increasing the number of Americans who own their own homes -- the key to wealth for most families -- by adding millions of new homeowners, including 5.5 million new minority homeowners by the end of the decade.