|
CNBC'S MOST SHARED
- Farrell: Signs of the Recession's End
- Michael Jackson Estate Hearing Underway
- Animalistic Behavior Against Novartis
- Stop Trading, Listen to Cramer!
- Pearl Izumi In Runner's World: Good Ad Or Bad?
- Warren Buffett 'Reluctantly' Accepts Decision By NetJets Creator To Step Down
- How to Use 'Cash for Clunkers'
- A Few Good Tweets (Updated)
- Cognizant Beats the Street
- Swiss Re Makes Surprise Net Loss, Hedges Backfire
- Lloyds' Bad Debts Hit $22 Billion, Posts Loss
- Citi Plans to Sell 20 Consumer Finance Businesses
- What's the Trade on Market Barometer Cisco?
- US to Sell More Inflation-Protected Bonds: Report
- Scandinavians Make Best Husbands, Survey Says
- Corporate Bond Rally May Be Over as Yields Pull Back
- Cash for Clunkers: Is It Worth Guzzling All That Cash?
- Buffett Accepts Resignation of NetJets Creator
- Warren Buffett 'Reluctantly' Accepts Decision By NetJets Creator To Step Down
- How to Cash in on Copper: Stock Picker
- Pullback is Coming — So Wait to Buy: Strategists
- Is It Worth Guzzling That 'Clunker' Cash?
- A Few Good Tweets (Updated)
- Discovery Doubles Earnings From Continuing Operations
- Animalistic Behavior Against Novartis
- 4 Internet Stocks on the Rise
- Henes' Lessons of the CEO: How to Succeed in Restructurings and Life
Home Vacancy Rate Fell to 2.5% in Second Quarter
Published:
Friday, 24 Jul 2009 | 11:38 AM ET
Text Size 
By: Reuters
 |
The vacancy rate fell to 2.5 percent from 2.7 percent in the first quarter of 2009, the Commerce Department reported.
The rate fell for the second straight quarter, signaling some improvement in the housing sector. It has not been as low as 2.5 percent since the third quarter of 2006.
High vacancies point to weakness in the sector and are a sign that many homeowners moved out of their primary residence even before it was sold.
The housing bust led many owners to vacate properties before they were sold due to low demand and the "upside-down" phenomenon, where owners owe more on a home than it is worth.
As a result, the vacancy rate jumped to a record 2.9 percent in early 2008 from 1.5 percent in 2001.
Copyright 2009 Reuters. Click for restrictions.
Data is a real-time snapshot *Data is delayed at least 15 minutes