Half the Homes for Sale... Are Empty
According to the US Census Bureau...
the national vacancy rate, the share of empty houses that are for sale, increased to 2.8% in Q4,
matching 2007's Q1 rate that was the highest in records going back to 1956. There were 17.8 million U.S. homes standing empty in the quarter.
Of those, 2.18 million were year-round homes for sale, more than half of the average 4 million properties on the market during the period.
According to FNMA, from the peak in mid 2005, the decline in home sales should reach 37% by this summer.
the national vacancy rate, the share of empty houses that are for sale, increased to 2.8% in Q4,
matching 2007's Q1 rate that was the highest in records going back to 1956. There were 17.8 million U.S. homes standing empty in the quarter.
Of those, 2.18 million were year-round homes for sale, more than half of the average 4 million properties on the market during the period.
According to FNMA, from the peak in mid 2005, the decline in home sales should reach 37% by this summer.
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