Tuesday October 7, 2008

Home

Latest Headlines

Popular Stories

Bookmark Us

Reader Comments

SUBSCRIBE

SEARCH OUR SITE

Second Quarter Vacancy Rates Slip from Previous Quarter

RSS

COMMENTS(0)

LINK HERE

ADD NEWS TO YOUR WEBSITE

The U.S National homeowner housing vacancy rate slipped to 2.8% in the second quarter, a 0.1% decline from the previous quarter's 2.9% rate, according to the U.S. Census Bureau report released on Thursday.

National vacancy rates for rental housing rates dipped slightly to 10.0% from 10.1% in the first quarter of 2008. The rental vacancy rate was higher than the second quarter rate last year, coming in at 9.5%.

The homeownership rate of 68.1% for the current quarter was lower than the Q1 2007 rate of 68.2% and lower than the previous quarter 67.8% result.

The homeowner vacancy rate in principal cities came in at 3.5% this quarter, higher than the suburbs 2.6% rate and greater than the outside MSA's 2.2% rate.

Regionally, the rental vacancy rates for the second quarter were highest in the South at 13.2%. The Midwest vacancy rate came in second at 10.6% while the lowest vacancy rates were in the Northeast at 7.3% and the West at 6.9%.

By Steve Stecyk and edited by Cristina Markham
©CEP News Ltd. 2008