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June is National Homeownership Month

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June is National Homeownership Month, a time to reflect upon the impact owning a home has on household wealth, neighborhood stability and the nation’s broader economic health. The theme of National Homeownership Month 2017 is “Find Your Place in a New Era of Homeownership.” 

Today, U.S. Housing and Urban Development Secretary Ben Carson kicked off the month-long recognition by hosting an academic forum on the state of homeownership in the U.S. following the housing crisis, specifically the challenges millennials face as they enter the market in greater numbers.

“After all we’ve been through, homeownership remains an American value and the cornerstone of our economy,” said Secretary Carson. “Today, we recognize the abiding value of owning a home, and rededicate ourselves toward ensuring that every hardworking and credit-worthy American enjoys a fair chance at becoming a homeowner.”

Since its creation in 1934, the Federal Housing Administration (FHA) has helped more than 46 million Americans purchase or refinance their homes.  Last year alone, FHA insured more than 1.2 million home loans, totaling $245 billion. An estimated 40 percent of all first-time homebuyers use FHA; 47 percent of home purchases by African American households are FHA-insured borrowers; and nearly half of Hispanic homebuyers rely upon an FHA-insured mortgage to purchase their homes.

Learn more about National Homeownership Month and the National Association of REALTORS®' Homeowner Bill of Rights.


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