Monday, February 12, 2007
Market Monday 2/12
A recent government study came out that could have sellers, buyers, and even some realtors a little nervous. The study reports that the number of vacant homes for sale is the highest it has been in 40 years. Currently the national percentage of vacant homes is 2.7% while a year ago it was 2.0%. This growing trend however is somewhat misleading according to our own mortgage expert at HomeBanc. With more and more people owning second and vacation homes as well as the increase in some areas of the country of new construction homes (builders will sometimes have unsold inventory) the percentage of vacant homes for sale is most likely inflated, although it is something to keep in the back of your mind.