We recently posted about how strong leasing activity has pushed apartment occupancy levels not seen in nearly 20 years. Now we have additional data coming from the Mortgage Bankers Association showing that the vacancy rate for single-family owner-occupied homes fell to 1.2% in Q1 – the lowest level since 1995.
“There has been a great deal of attention paid lately to the mismatch between the supply of, and demand for, housing in the United States. According to Census statistics, the U.S. added 1.5 million households during 2018 but built fewer than 1.2 million new housing units. The result is a tightening inventory – not just of homes for sale, but of homes available to occupy.”