Last year saw improvements in housing construction, sales, prices, and mortgage originations. But the housing market’s rebound in 2012 did not include gains in the homeownership rate. For the fifth straight year, homeownership declined, falling to 63.9 percent – the lowest rate since the survey began in 2005 and lower than any rate recorded in a decennial census since 1970. But, according to Patrick Simmons, director of strategic planning for Fannie Mae’s Economic and Strategic Research Group, 2012 also saw substantial improvements in housing affordability. Simmons believes that, though demand shifted from owning to renting during the housing crisis, those renters are now better positioned to save money to buy a house in the future. And since consumers continue to indicate a preference for owning over renting, Simmons feels the trend bodes well for homeownership sustainability in years to come. More here.