Housing Choices in Today’s Market Mobility: Percentage of U.S. Housing Units Occupied by Years 2014
This is the first in a series of four factoids studying the recovering housing market by delving into the primary factors that determine a consumer’s home choices. Not only faced with the decision to rent or buy, households planning to move are making choices based on age, size and cost of housing structures.
During the Recession, people generally put moving on hold. As the economy has improved, mobility has slowly increased and more households are changing residences. 60.6 percent of total U.S. housing units were moved into since the year 2000 and 38.4 percent in the last five years.
Apartments are particularly transient with 70 percent of apartment units moved into within that same five-year period. As expected, owner-occupied housing units are more stable with 20 percent of these units moved into in the last five years, and 56.7 percent since 2000.
Next week’s factoid will describe the aging of the housing inventory.
Source: U.S. Census Bureau, American Community Survey (ACS)