Another real estate record: more home vacancies than ever
The residential real estate industry has set a number of dubious records during this housing slump. Now it’s set yet another: The number of homes sitting empty is higher than ever.
According to the Census Bureau 18.6 million homes across the country were sitting unoccupied during the second quarter of the year. That’s a new record. The number of vacant dwellings was up 6.9 percent from the same period last year.
These vacant homes are a problem. Many of their owners are living in other homes and are struggling to unload the vacant properties. This, as you can imagine, contributes to the rising number of housing foreclosures in the country.
I remember just a few years ago when the housing industry was setting different kinds of records: The median housing price across the nation rose to its highest level ever. The number of homes sold in a year set an all-time record. More Realtors were working across the country than ever.
Those days, at least for now, are over. Now the records the industry sets are ones that no one ever wanted to see.
Tags: foreclosures, housing slump, U.S. Census Bureau, vacant homesRelated Stories
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