Skip to main content

Vacancy Rates Inch Upward

for-rentNational vacancy rates for both rental and homeowner housing inched slightly upward year-over-year in Q3, according to data released by theDepartment of Commerce’s Census Bureau on Tuesday.
The vacancy rate for rental housing in Q3 2015 was 7.3 percent, an increase of 0.1 percentage points from the same quarter a year ago. The homeowner vacancy rate was 1.9 percent in Q3, up 0.1 percentage points both month-over-month and year-over-year.
Vacancy rates in rental housing were highest outside of Metropolitan Statistical Areas at 9.2 percent and were lower in principal cities at 7.7 percent and suburbs at 6.2 percent. The homeowner vacancy rate was also highest outside MSAs at 2.5 percent and was slightly lower inside principal cities at 1.9 percent and in the suburbs at 1.7 percent.
Overall in Q3, approximately 87.1 percent of single-family housing units were occupied and 12.9 percent were vacant, according to the Census Bureau. About 55.5 percent of all single-family housing units were owner-occupied in Q3, while renter-occupied units comprised bout 31.6 percent of single-family housing inventory in the third quarter.
Single-family units that were vacant year-round made up about 9.7 percent of total housing units in the third quarter; 3.2 percent of vacant units were used seasonally, according to the Census Bureau. About 2.5 percent of total single-family units were for rent and 1.1 percent were for sale. Slightly less than 1 percent (0.9) of units had been sold or rented but were yet to be occupied.
Out of the vacant units that were held off the market, which comprised 5.3 percent of the country’s total housing stock in Q3, “1.5 percent were for occasional use, 0.9 percent were temporarily occupied by persons with usual residence elsewhere (URE), and 2.8 percent were vacant for a variety of other reasons,” according to the Census Bureau.
Also according to the Census Bureau’s report on Tuesday, the country’s overall homeownership rate climbed by 0.3 percentage points from Q2 to Q3 up to 63.7 percent; Q2’s reported rate of 63.4 percent was a 48-year low. In the third quarter of 2014, the homeownership rate was 64.4 percent.

Popular posts from this blog

UFC 227 play-by-play and live results #UFC #MMA #UFC227

LOS ANGELES – MMAjunkie is on scene and reporting live from today’s UFC 227 event, and you can join us for live play-by-play and official results beginning at 6:30 p.m. ET (3:30 p.m. PT). The event takes place at Staples Center in Los Angeles. The main card airs on pay-per-view following preliminary-card bouts on FX and UFC Fight Pass. In the main event, bantamweight champion T.J. Dillashaw (15-3 MMA, 11-3 UFC) rematches former champ and ex-teammate Cody Garbrandt (11-1 MMA, 6-1 UFC) for the title. In the co-feature, flyweight champion Demetrious Johnson (27-2-1 MMA, 15-1-1 UFC) has a rematch with Olympic gold medalist and former title challenger Henry Cejudo (12-2 MMA, 6-2 UFC). Follow along with our round-by-round updates and official results beginning at approximately 6:30 p.m. ET for the UFC Fight Pass prelims, 8 p.m. ET for the prelims on FX, and 10 p.m. ET for the main card on pay-per-view. To discuss the show, be sure to check out our  UFC 227 discussion thread...
Read more

First-Time Home Buyer Mortgage Risk Edge Up Team Thayer Real Estate news.

The first-time buyer share in April, May, and June was launched to new highs, supported by improvements in the labor market, riskier mortgage lending, and continuing low mortgage rates. The  American Enterprise Institute (AEI)  International Center on Housing Risk  recently released a  report , finding that first-time buyers account for 58.8 percent of primary owner-occupied home purchase mortgages with a government guarantee, up from 57.2 percent the prior June, according to the Agency First-Time Buyer Mortgage Share Index (FBMSI). The Combined FBMSI, which measures the share of first-time buyers for both government-guaranteed and private-sector mortgages reached an estimated 52.9 percent, up from 51.6 percent the prior June, according to the report. In addition, AEI determined that the Agency First-Time Buyer Mortgage Risk Index (FBMRI) stood at a series record of 15.83 percent, and increase of half of a percentage point from the average over the prio...
Read more

Team Thayer Real Estate House Flipping Traps! #flippinghouses #eugeneoregon #oregon #housing #market #realestate

If you’ve got several leads waiting to turn into potential deals, you can’t wait for one to suddenly come knocking at your door. Successful real estate house flippers have one trait in common: they place an emphasis on proper planning. Once you’ve secured a deal, you must decide what kind of rehab you will perform. Will you conduct a few simple cosmetic upgrades (like these  10 rehab projects you finish in one weekend )? Or, is the home nice enough to sell after  an easy prehab ? Are there structural damages that will require you to carry out more major renovations? Will you focus on implementing environmentally friendly renovations  – also known as “greenhabbing” – so that you  qualify for certain tax benefits ? Once you’ve determined your strategy, it is important to ask yourself these specific questions before diving into the construction action: What are the current market conditions in my area? What does my ideal buyer look like? Does my marketing cam...
Read more