U.S. Housing Vacancy Rates Fall in Second Quarter

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U.S. Housing Vacancy Rates Fall in Second Quarter

By Rex Nutting

RISMEDIA, July 30, 2007—(MarketWatch)—Vacancy rates for U.S. housing units declined in the second quarter after sharp increases over the previous year, the Commerce Department said Friday.

The vacancy rate for owner-occupied units fell to 2.6% from a record 2.8% in the first quarter. The vacancy rate for rental units fell to 9.5% from 10.1% in the first quarter. The number of vacant housing units fell by 175,000 to 17.4 million. The number of vacant homes for sale fell by 142,000 to 2 million. The home ownership rate fell to 68.4% from 68.6%.

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Categories: Real Estate