Homeownership remains at a 51-year nationwide low at 62.9% due to a stark lack of supply, an estimated annual decrease of up to 300,000 homebuyers in the real estate market, and residual bad credit from the housing crisis.

California’s comparatively speedy recovery — especially in lucrative metropolitan areas like the Bay Area — belies its low homeownership rate at 54.1%, still below the state’s historic rate of 55%.

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