National vacancy rates in Q210 were overall level from the previous quarter, according to updated data today from the Census Bureau. The 2.5% vacancy rate of owner-occupant housing units was only 10 basis points (bps) below the previous quarter and remained level with the year-ago quarter. The rental housing market’s vacancy rate of 10.6% in Q210 was level with the previous quarter and year-ago quarter. Additionally, the homeownership rate slipped to 66.9%, nearly level with 67.1% in the previous quarter: The ownership housing vacancy rate in principal cities — 3% — was higher than in the suburbs and outside metropolitan statistical areas (MSAs) — 2.4% each. Vacancy was lowest in the Northeast — 1.4% — where the rate was also much lower than 2% in the previous year. Vacancy in Q210 was highest in the South — 2.9%. Approximately 85.6% of housing units were occupied in Q210, and the remaining 14.4% were vacant. Owner-occupied housing units made up 57.3% of total housing units, while renter-occupied units made up 28.3% of inventory. Write to Diana Golobay.
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