Housing Vacancy Rate Finally Stabilizes

National vacancy rates in the fourth quarter 2009 were 2.7 percent for homeowner housing, not significantly different statistically from the fourth quarter 2008 rate (2.9 percent) or from the rate last quarter (2.6 percent), according to the Census Bureau.

The homeownership rate at 67.2 (+ 0.5) percent for the current quarter was not significantly different statistically from the fourth quarter 2008 rate (67.5 percent), but it was lower than last quarter’s rate (67.6 percent).

Targeting more specific areas:

• Principal cities vacancy rate of  3.1% exceeded the 2.5% vacancy rate of the surrounding suburbs.
• Q4 regional homeowner vacancy rate was lowest in the Northeast (1.9 percent).
• The South, Midwest and West vacancy rates were not statistically different from each other.
• The homeowner vacancy rates in the four regions were not statistically different from their respective rates last year.

Stabilized vacancies are a strong signal that housing may be balancing itself out. A stable inventory points is a sign of  recovery in the U.S. housing market.

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