Homeownership Rates Declines in Q3

The homeownership rate declined 0.8 percentage points in the third quarter compared with the third quarter of last year to a rate of 65.5 percent, the Dept. of Commerce’s Census Bureau reported this week. It was approximately the same as the rate last quarter. The rental vacancy rate of 8.6 percent was 1.2 percentage points lower than the rate recorded in third quarter 2011 and approximately the same as the rate last quarter. The homeowner vacancy rate of 1.9 percent was 0.5 percentage points lower than the third quarter 2011 rate and 0.2 percentage points lower than the rate last quarter. In third quarter 2012, the median asking sales price for vacant for-sale units was $137,000. For third quarter 2012, the homeowner vacancy rate was higher in the South (2.1 percent) than in the West (1.7 percent). The rates in the Northeast, Midwest, and West were not significantly different from each other. The homeowner vacancy rates in the Midwest, South, and West were lower than a year ago, while the rate in the Northeast was not statistically different from the third quarter 2011 rate.

 

Brodie Stephens- Broker/ Owner

www.BrodieStephens.com

(916) 878-8981

 

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