The homeownership rate in the United States rose slightly in 2022, reaching the highest figure since 2011. Last year, the proportion of households that are occupied by owners stood at 65.9 percent.
The U.S. homeownership rate was the highest in 2004 before the 2007-2009 recession that decimated the housing market. The rate continued to fall until 2016 but has begun to increase again since then.
Homeownership trends vary from generation to generation. For example, homeownership among Americans over 65 years old is declining, whereas most Millennial renters plan to buy a home in the near future.
This suggests that homeownership will remain important in the future, as Millennials are forecast to head most households over the next two decades.
However, there's a great deal of change in the way people decorate their homes, too. For example, interior designer Susan Hayward of Susan Hayward Interiors told Insider the popular gray-interior trend is slowly fading out and being replaced.
"Gray interiors are on their way out, along with cool tones in general," Hayward said. "Instead, we are going to see more pops of color, highlight walls, and warm tones taking their place."
According to Hayward, light fixtures have increased in size and, in some cases, have even grown too large for certain rooms.
"I hope we leave massive lighting in 2022," Hayward said. "Fixtures keep increasing in size and often do not match the scale of a room. A chandelier should not be as big as the dining table beneath it, and you should be able to approach the table without feeling like you are going to hit your head on the light fixture."
Interior designer Rudolph Diesel expects to see more accent walls add definition and eye-catching elements to spaces in 2023.
"Opt for an accent with a unique texture or wallpaper in a similar color to the rest of the room," Diesel added. "If you want to create a wooden accent wall, make sure you're using vertical slats as they give a roof a lift, and make small spaces feel more intimate and large spaces feel more inviting. Avoid using reclaimed wood, which will make your home look dated."
Diesel also recommends choosing the correct area to adorn, as it's best to decorate the first wall you see when you walk into the room.
