A record 19.1 million homes stood unoccupied in the first quarter, and the U.S. homeownership rate fell as the recession sapped demand for real estate.
The number of vacant homes, including foreclosures, those for sale and vacation properties, rose from 18.6 million in 2008, the U.S. Census Bureau says in a report released Monday. The percentage of resident-owned households fell for a third quarter to 67.3 percent.
The percentage of all U.S. homes empty and for sale fell to 2.7 percent in the first quarter. It hit an all-time high of 2.9 percent in the first and fourth quarters of 2008, the Census Bureau says.
The inventory of homes on the market averaged 3.7 million in each of 2009's first three months, according to the National Association of Realtors. The monthly average was 4.2 million in 2008.
There were 130.4 million homes in the United States in the first quarter, the Census Bureau says. In addition to the 2.1 million empty properties for sale, the report counted 4.2 million vacant homes for rent and 4.9 million seasonal properties that only are used part of the year.
The Census Bureau did not provide data specific to the Tampa Bay area; however, Houston-based Metrostudy, a housing research firm, said the number of new but vacant homes has dropped for the past eight consecutive months in Pasco, Hillsborough, Citrus, Hernando and Pinellas counties.
In the past year, the number of models and finished vacant homes dropped 27.5 percent. There were 2,430 empty new homes in March, compared with 3,351 during the same month a year ago.
Because of the slow sales pace, however, it would take 4.6 months to sell all those homes, Metrostudy says. That's the highest supply of finished and vacant new homes in 10 years.
Email
Facebook
Google
Twitter
Favorites
More
Advertisement
Advertisement