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U.S. Home Vacancy Rate Falls to 24-Year Low

Mortgage News > U.S. Home Vacancy Rate Falls to 24-Year Low
Date: 07/25/2019    U.S. Home Vacancy Rate Falls to 24-Year Low

Demand for U.S. housing is quickly outpacing the supply of homes, according to United States Census Data. In the 2019 first quarter, the vacancy rate for single-family, owner-occupied homes dropped to 1.2%, the lowest point since 1995. Among multi-family rentals, the vacancy rate rose to 8.3% in the first quarter, but that still remains near historic lows. The problem lies in a lack of construction. For all of 2018, 1.5 million new households were added to the U.S. but only 1.2 million new housing units were built.

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