Colorado homeownership hits 7-year low

The homeownership rate in Colorado hit a seven-year low in the first quarter of 2012, at 64.5 percent.

The rate in the first quarter of 2011 was slightly higher, at 65 percent. The current rate is the lowest since the Census Bureau first began publishing the data for Colorado in 2005. Homeownership has declined steadily since then.

The decrease in homeownership corresponds with dramatic drops in vacancy rates statewide. More and more families are choosing to rent or are forced to do so because of market conditions.

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Home sales have increased in Larimer County in recent months, up by 12.7 percent in Loveland and by 22.6 percent in Fort Collins, but have decreased in Weld, by 8.9 percent. Homeownership data for specific counties was not available.