US Q1 home vacancy rate falls to 2.6 pct from 2.7

WASHINGTON, April 26 (BestGrowthStock) – The share of empty U.S.
homes fell slightly in the first quarter, a government report
on Monday showed, though vacancies remained at elevated levels
amid continued weakness in the housing sector.

The first quarter vacancy rate fell to 2.6 percent from 2.7
percent in the fourth quarter of 2009, the Commerce Department
reported. The first quarter rate was also just below the 2.7
percent rate in the same period a year ago.

An elevated vacancy rate is a sign that many homeowners
have moved out of their primary residence even before it was
sold.

Among the regions, the South had a vacancy rate of 2.8
percent while the Midwest’s rate was 2.6 percent. The rate was
2.7 percent in the West, while the Northeast recorded the
lowest rate, at 1.8 percent, the department said.

The share of empty rental homes fell to 10.6 percent in the
first quarter from 10.7 percent in the final three months of
last year. That’s up from 10.1 percent in the first quarter of
2009.

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(Reporting by Corbett B. Daly; Editing by Chizu Nomiyama)

US Q1 home vacancy rate falls to 2.6 pct from 2.7