If you haven’t been thinking about the national home vacancy rate, you aren’t alone. But while it isn’t a hot topic, it will affect you, if you plan on shopping for a house to buy. There are only so many homes. When there are fewer on the market, prices rise. When there are many, prices moderate. That means vacancies are good for buyers. But, these days, there are few. In fact, according to ATTOM Data Solutions’ latest Vacant Property and Zombie Foreclosure Report, the vacancy rate remains low at 1.3 percent of residential properties. That’s unchanged from last quarter and last year. Rob Barber, CEO of ATTOM, says it’s part of the reason home prices remain high. “It remains very hard to find an empty home for prospective buyers in most regions,” Barber said. “In 19 states, the home vacancy rate is below 1 percent, creating a bottleneck that is helping to keep prices high.” (source)
