U.S. homeownership hits 18-year low in first quarter

WASHINGTON, April 29 Tue Apr 29, 2014 10:16am EDT

WASHINGTON, April 29 (Reuters) - Homeownership in the United States fell in the first quarter to its lowest in more than 18 years, suggesting it will take a while for housing to heal from the recession's deep scars.

The seasonally adjusted homeownership rate, the share of households owning a home, slipped to 65 percent, the Commerce Department said on Tuesday. That was the lowest since the third quarter of 1995. Homeownership had hovered at 65.1 percent since the second quarter of last year. (Reporting by Lucia Mutikani; Editing by James Dalgleish)

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