Florida REALTORS®, along with REALTORS® across the U.S., celebrate June as National Homeownership Month. The organization stated that the recognition acknowledges the importance of owning a home and the impact it has on the lives of American families, local communities and the nation’s economic health.
“Buying a home is often the biggest financial investment of a lifetime—but it also means so much more,” said Florida REALTORS® President G. Mike McGraw, a broker-associate with RE/MAX Central Realty in Orlando. “Our homes are where we share our lives, build our futures together and make priceless memories. Not only do our homes provide shelter, security and stability, they also give us a sense of place and community. Each and every day, REALTORS® in Florida promote housing opportunities and help people realize the American dream of homeownership.”
For generations of families, Florida REALTORS® stated that homeownership has been essential to their plans for their lives and their futures. Beyond the emotional and social benefits, homeownership builds household wealth. A homeowner’s average net worth in 2021 was $300,000 – nearly 40 times that of a renter at $8,000, according to recent research from the National Association of Realtors® (NAR).
President Joe Biden issued a proclamation recognizing June as National Homeownership Month, according to a release, showcasing homeownership as a source of economic strength and emphasizing the need to increase the ranks of homeowners, especially among minorities.
The proclamation stated, “During National Homeownership Month, we recognize the power of owning a home when raising a family, planting roots in a community, building equity and passing down generational wealth to continue the American Dream for generations to come. We recognize that a place to call home, regardless of owning or renting, is essential to a life of security, dignity and hope.”
According to the U.S. Census Bureau, the homeownership rate in Florida was 66.6% in the first quarter 2023; the U.S. homeownership rate was 66% for the same period, as stated in a release.
This national spotlight on homeownership began as a weeklong recognition in 1995 and was first proclaimed to last the entire month in June 2002 under former President George W. Bush.
Realtors are celebrating this June as Homeownership Month with homebuyers and sellers in communities across Florida, with the help of materials from Florida Realtors.
The National Association of Realtors (NAR) also has info and more available on its Homeownership Month Resources webpage. The U.S. Department of Housing and Urban Development (HUD) offers assistance and helpful info on homeownership, housing policies, programs, counseling and more at their website, https://www.hud.gov/.
