June is National Homeownership Month. This year the theme is “Find Your Place,” set by the Department of Housing and Urban Development (HUD).  HUD has helped many consumers find the right path to homeownership through counseling for foreclosure prevention and homeowner education courses. The Nation Association of REALTORS® (NAR) has 1.3 million REALTORS® that are ready to help you "Find Your Place," over 16,000 of which are right here in Alabama. 

“As we celebrate National Homeownership Month, we are reminded that homeownership is so much more than simply purchasing a house. It’s about investing in your family and your community," said Alabama REALTORS® 2019 President Stacey Sanders. "As you begin your journey to homeownership, contact an Alabama REALTOR® and let them help you 'Find Your Place' in Alabama.”
 

The celebration actually started out as a weeklong event promoting the idea of homeownership in the 1920s. NAR recognized this event in 1956. Then in 2002, President George W. Bush declared an entire month dedicated to celebrating and promoting homeownership.

“Homeownership serves as an enduring symbol of security and prosperity, and it provides many Americans with a legacy they can pass down to their children and grandchildren,” said HUD Secretary Ben Carson in a statement. “During National Homeownership Month, we recognize the abiding value of owning a home, and we rededicate ourselves toward helping hard-working families to find their place in the American dream.”

Thanks to a new law in Alabama, saving to become a homeowner is easier than before. First-time homebuyers or those reentering the market that haven’t owned a home in the past 10 years can set up a tax-free savings account of up to $50,000. This resource will help consumers be able to enter the housing market without breaking the bank. If you would like to find out more on purchasing your first home check out this video on how to start saving now.
 

While homeownership rates can be affected by many different things, including economics and cultural factors, they are trending lower than in the past. NAR believes that homeownership can have a huge impact on your future, and many Americans see it as one of their greatest hopes. NAR is celebrating National Homeownership Month by encouraging current homeowners to share their story on their website.
 

Source: "June Is National Homeownership Month" RISMedia Liz Dominguez
Source: "June Is National Homeownership Month" National Association of REALTORS® (May 29, 2019)