It’s National Homeownership Month, and at Champion Title, we’re proud to be part of the industry that makes homeownership a reality for so many Americans.
“Homeownership serves as an enduring symbol of security and prosperity, and it provides many Americans with a legacy they can pass down to their children and grandchildren,” said HUD Secretary Ben Carson in a press release. “During National Homeownership Month, we recognize the abiding value of owning a home, and we rededicate ourselves toward helping hard-working families to find their place in the American dream.”
In the first quarter of this year, about 64.2% of Americans owned homes, based on statistics from the U.S. Census Bureau.
Most Americans Still Believe in Homeownership
Based on a survey last year by the National Association of Realtors® (NAR), the majority of Americans still believe that homeownership is a good investment. Approximately 84% of those surveyed said they thought buying a house was a good financial move. This was the highest percentage who had said that in the survey since 2007. Respondents also indicated that the top financial reasons for buying homes were to build equity and prepare for retirement.
That may not be surprising based on another recent survey by the Board of Governors of the Federal Reserve System which showed that for most Americans, their primary residence was their largest financial asset. In fact, the primary residence amounted to about one quarter of all assets held by all U.S. households in 2016.
Many Government Agencies and Organizations Offer Free Homeownership Resources
To encourage and educate aspiring home buyers, many organizations offer free information and resources. Here are a just a few of which you might want to check out if you’d like if you’re a future home buyer.
- The National Association of Realtors (NAR)
- The National Association of Home Builders (NAHB)
- The U.S. Department of Housing and Urban Development (HUD)
Trust Champion Title & Settlements with Your Title Services
Champion Title is a full-service title insurance agency providing title insurance and closing support to streamline closings and increase compliance for our diverse clientele including home buyers. We fully embrace technology and are proud to offer clients myriad tools and services to efficiently and accurately assist them with all of their closing needs. For more information, contact us today!