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The share of U.S. homes owned but empty edged up in the first quarter to a record high 2.9 percent, the U.S. Census Bureau said Monday in a report adding more evidence of a deepening housing slump.
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AP |
At the same time, the U.S. homeownership rate moved up to a seasonally adjusted 67.9 percent from a near seven-year-low of 67.7 percent in the fourth quarter and 68.5 percent in the first quarter of 2007, it said.
Regional homeowner vacancy rates for the first three months of this year were the lowest in the Northeast, hitting 2 percent compared to 1.9 percent the same time a year earlier.
The rates were unchanged from the same time a year ago in both the Midwest and the South, at 2.9 percent and 3.2 percent, respectively.
But they shot up to 3.2 percent in West, an area hardest hit by the crisis in risky subprime mortgages, from 2.6 percent a year earlier.
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