Vacant Homes

The number of vacant homes for sale in the United States set a new record in the first quarter of 2008, the U.S. Census Bureau reported Monday.

The Census Bureau reported that 2.9 percent of U.S. homes or 2.28 million properties, not including rentals, were vacant and for sale. It was the highest quarterly number as far back to 1956 when records of such vacancies were first kept.

The West had the biggest gain in vacancy rates among home owners, rising to 3.2 percent in the January-March period from 2.6 percent in the same quarter a year earlier. Vacancy rates inched up in the Northeast and remained steady in the Midwest and South.

From my recent house hunting trips with clients I know there are a good deal of vacant homes, many of them short sale or bank owned properties in the Sacramento area. Of MagnumOne Realty’s current active and pending listings only 40 percent are occupied..

We are starting to hear about squatters moving in but have not had any direct experience with this issue.

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