Vacancy Rate in the West

[admin]

It's still low — 2.3% — but it's up substantially versus one year ago — 1.5%.

http://www.census.gov/hhes/www/housing/hvs/historic/histtab2.html

Vacant homes for sale in the West are up 59% (364K Q3 '06 vs. 229K Q3 '05):

http://www.census.gov/hhes/www/housing/hvs/historic/histt10.html

It's too bad that Census only gives regional data quarterly, and only provides MSA level data annually.

Interestingly, peak vacancy rate for San Diego homes was 3.0%, in '92: 

http://www.census.gov/hhes/www/housing/hvs/annual05/ann05t6a.html

Lastly, while today's vacancy rate of 2.3% in the West seems (to me) low, in this data series spanning back to '56, the 2.3% ties the record vacancy rate achieved in '66-'67 and '85.  In the early '90s downturn, the vacancy rate in the West only reached 2.1%.

We've only just begun the downturn, and we're already at a record home vacancy rate here in the West.  It's going to be ugly!

[Author]

Posts