Homeownership rates in the United States have been trending down since the Great Recession. It’s an important trend that significantly impacts the economy and quality of life. But, what are the key drivers of homeownership? How are those drivers changing over time? What can they tell us about the future of homeownership rates?

"While homeownership progress declined between 2013 and 2014, progress varies across states."

In an effort to shed light on these fundamental questions, we are unveiling today the First American Homeownership Progress Index (HPRI), which provides a unique view of homeownership rates and the underlying demographic and economic factors that influence the probability of homeownership levels in the United States.

Increasing homeownership rates among minority communities is an especially important topic. Data from the HPRI provided important context for the “Achieving the American Dream” Leadership Forum in Washington, D.C. brought together elected officials, business and community leaders for an in-depth discussion on how to more broadly facilitate achieving the American Dream for the nation’s Latino and African-American communities. The overwhelming consensus among the participants was that this is a critical issue to follow in the next few years.

So, that is why we’re looking forward to tracking how economic and lifestyle trends change and how those changes will impact homeownership levels. Every year, we’ll post a new HPRI with updated data. We expect to publish the 2015 results next March.