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Dec 18

U.S. housing starts and the percent of vacant housing units

U.S. total housing starts and the percent of vacant housing units (owner and rental), December 17,  2010

The graph shows housing starts through November 2010. The combined vacancy rate is calculated through Q3 based on the Census Bureau vacancy rates for owner occupied and rental housing.

  • The good news is the total vacancy rate has started to decline
  • Homebuilders will complete a record low number of housing units in 2010
  • The declining vacancy rate suggests more households are being formed than net new housing units are being added to inventory
  • Excess housing supply is being absorbed – albeit, slowly.

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