The share of US homes without a mortgage jumped five percentage points from 2012 to 2022 to a record near 40%, Bloomberg reported.
Historically high mortgage rates and home prices have kept many Americans sidelined from the market.
The share of homeowners that are mortgage-free surged 5% between 2012 and 2022, Bloomberg reported Friday, citing data from the Census Bureau, hitting a new record just below 40%.
Construction is booming in these states, and the share of mortgage-free homes is high.
West Virginia, meanwhile, has the largest share of mortgage-free homes, at about 53%, Bloomberg reported.
Persons:
—, Holly Meyer Lucas
Organizations:
Bloomberg, Service, Census, Business
Locations:
Florida, Texas, South Florida . Texas, Arizona, West Virginia