The number of owner occupied households has been lower-than-normal for several years.
The housing crash caused a reduction in home ownership and for years trailed behind rental households in terms of growth.
But, though the homeownership rate fell, Americans still expressed a desire to own their own home.
That there was a large majority of people who said they wanted to buy but were holding off meant, one day, that pent-up demand would result in a spike in home buyers.
Now, owner-occupied households are growing faster than rental households for the first time in 11 years.
This is significant because it may signal that more Americans are finally realizing their dream and becoming homeowners.