Florida Realtors®: June is National Homeownership Month

ORLANDO, Fla., June 5, 2024 /PRNewswire/ -- Florida Realtors^®, along with Realtors^® in the Sunshine State and across the U.S., celebrate June as National Homeownership Month. 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. This month marks the 22nd anniversary of National Homeownership Month.

"Buying a home is usually the biggest financial investment a person makes in a lifetime – but it means so much more," says 2024 Florida Realtors^® President Gia Arvin, broker-owner with Matchmaker Realty in Gainesville. "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.

"Every day, Realtors in Florida promote housing opportunities and help people realize the American dream of homeownership."

For generations of families, 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 2022 was $396,200 – about 38 times that of a renter at $10,410, according to recent research from the National Association of Realtors^® (NAR).

President Joe Biden issued a recent proclamation recognizing June as National Homeownership Month, highlighting showcasing homeownership as a source of economic strength and emphasizing the need to increase the ranks of homeowners, especially among minorities.

The proclamation stated, "Owning a home is about more than putting a roof over your family's head – it is part of the American Dream. For generations, it has been a pathway to the middle class, an opportunity to build community and to pass down wealth to your children. But too many Americans today still struggle to buy a home. This National Homeownership Month, we recommit to giving every American a fair shot at that dream."

It also noted that … "Whether they rent or buy, Americans deserve a safe place to call home."

According to the U.S. Census Bureau, the homeownership rate in Florida was 69.7% in the first quarter of 2024; at the same time last year, it was 66.6%. The U.S. homeownership rate in 1Q 2024 was 65.6%.

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 at https://www.hud.gov/.

Florida Realtors^® serves as the voice for real estate in Florida. It provides programs, services, continuing education, research and legislative representation to 238,000 members in 51 boards/associations. Florida Realtors^® Newsroom is available at http://floridarealtors.org/newsroom.

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SOURCE Florida Realtors