The U.S. homeownership rate climbed in the fourth quarter to the highest level in nearly five years, providing fresh evidence that momentum is shifting back to owning instead of renting. The share of American households that own their homes rose to 64.8% in the fourth quarter of last year, up from 64.2% a year earlier, according to U.S. Census Bureau figures released on Thursday. The last time the homeownership rate was that high was in 2014.

Source: Wall Street Journal February 28, 2019 21:33 UTC