La Jolla Real Estate - Number of Vacant Homes on Market Hits Record

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May 02, 2007

Number of Vacant Homes on Market Hits Record
The U.S. Census Bureau reports that the number of vacant homes that are for sale has risen for the tenth consecutive quarter, hitting a record of 2.8% of total homes available for sale.

This number has shown a steady increase since the 4th quarter of 2004. At that time, the quantity of vacant homes accounted for only 1.8% of all homes available.

Some analysts are stating that this increase of vacant homes is a sign that the overall recovery of the slump in the housing market will take longer that previously predicted.

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