Ripples

Star Tribune Mon, 28 Apr 2008 21:09:40 GMT
Percentage of vacant homes hits record high

WASHINGTON -- The percentage of vacant homes for sale in the United States set a record high in the first quarter of this year, the government said today. The Census Bureau report shows that shows that 2.9 percent of U.S. homes -- excluding rental properties -- were vacant and up for sale, compared with 2.8 percent in the fourth quarter of 2007. It was the highest quarterly number in records going back to 1956. That works out to 2.28 million properties, up from 2.18 million in the same quarter last year, according to the report. The West had the biggest gain in vacancy rates among homeowners, rising to 7 percent in the January-March period from 6.5 percent in the fourth quarter of 2007. Vacancy rates fell in the Midwest and South, but rose in the Northeast. The national vacancy rate, including new and existing homes, has been steadily rising since mid-2005.

[[keywords: Housing;Metro;]]