U.S. Vacancy Rate Rises to Record 2.8% in First Quarter

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By Rex Nutting

RISMEDIA, April 27, 2007-(MarketWatch)-The vacancy rate for owner-occupied homes rose to a record 2.8% in the first quarter from 2.7% in the fourth quarter, the Commerce Department reported Friday. A year ago, the vacancy rate was 2.1%, a record at the time. The vacancy rate for rental homes rose to 10.1% from 9.8%, the highest in two years. Of 127.3 million housing units in the United States, 17.6 million were vacant at the end of the quarter, including 2.2 million vacant units that were for sale and 4 million for rent. Compared with a year ago, the housing stock increased by 1.9 million, with vacant units rising by 1.5 million and occupied units rising by 400,000.

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