The U.S. home ownership rate has fallen to its lowest point since 1995, the Census Bureau reported in April 2013.
The home ownership rate dropped to 65 percent in the first quarter of 2013, down slightly from 65.4 percent a year earlier.
Housing analysts said tight credit conditions, constrained inventories of for-sale homes, and an increase in single-family rental homes have caused the home ownership rate to fall.
Paul Diggle, a property economist for Capital Economics, said his prediction is that home ownership rate would likely fall for the remainder of the year.
The home ownership rate peaked in June 2004 when it stood at 69.2 percent.
SOURCE: Bloomberg News