U.S. Homeowner Vacancy Rate Rises

The share of U.S. homes owned but empty rose to 2.7 percent at the end of September, the Census Bureau said Friday, in a signs of weakness in the housing sector.

The rate, which was up from the 2.6 percent reported in the second quarter, indicates that a large share of the nation's homes are on the market but not selling, said Dean Baker, a director of the Center for Economic and Policy Research in Washington.

"There are a lot of vacant homes out there and a lot of pressure on many homeowners to sell," he said.