Census Report Confirms Tight Housing Market

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Posted To: MND NewsWire

The rate of homeownership as well as the national vacancy rates were statistically unchanged in the first quarter of this year, and prices, especially for rentals, have responded as might be expected. The Bureau said the vacancy rates among rental units was unchanged for the third consecutive first quarter at 7.0 percent. Until they stabilized in 2016, rental vacancies had drifted down steadily after reaching more than 10 percent in 2010. The homeowner vacancy rate was a tight 1.5 percent, down from 1.7 percent in the previous 1 st quarter. There were an estimated 136.3 million residential units in the U.S. at the end of the first quarter, an annual increase of 910,000. Occupied units represented 87.5 percent of the total. Of the 118.9 million units that were occupied, 75 million or 56.1 percent…(read more)

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