The U.S. Department of Commerce announced this week that national vacancy rates for the first quarter of 2016 were 7%, which is virtually unchanged from last quarter and from Q1 of 2015. The U.S. homeownership rate for the first quarter was 63.5%, slightly lower than the last quarter of 2015 (63.8%). In addition the Q1 2016 median asking rent for vacant for rental units was $870 and the median asking sales price for vacant for sale units was $144,700.
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
