Did you know that June is National Homeownership Month? Our brokerage strives to bring this dream to reality for hundreds of buyers daily despite the constant hurdles of our current housing market. This month we're focusing on promoting homeownership and the opportunities it provides to our community.
Homeownership is Important
Owning your own home is the centerpiece of the American Dream and provides a proven pathway to economic well-being and intergenerational wealth-building. Creating this financial security is an important undertaking. With 65.5% of Americans owning homes, the net worth of a typical homeowner is nearly 40 times the net worth of a non-homeowner. In terms of dollars and cents - the total value of owner-occupied housing rose by $8.2 trillion in the last 10 years, and the number of middle-income homeowners increased by nearly 1 million.
Navigating the Current Housing Market
A historic 50-year record shortage of affordable homes available for purchase has severely limited access to the residential real estate market. The Greater New Orleans Metro area market has experienced these vast changes firsthand, so this month we'll work to share options for buyers who may be struggling to find their dream homes. But while prices have increased, the National Association of Realtors® released a study showing that 2.6 million more households became homeowners in 2020, being the largest annual increase on record. More and more people are experiencing the benefits of homeownership!
What We're Doing for Our Local Market
United Real Estate Partners is equipped with over 80 agents, and a large group of our professionals focus on fist time homebuyers as they navigate this unprecedented housing market. We're working closely with lenders, appraisers, home inspectors, and credit repair services to provide the best assistance to our buyers in achieving the goal of homeownership because enabling more households to achieve and maintain sustainable homeownership is crucial to better quality of life to our community as a whole.