U.S. residential property vacancy rates are on the decline, but this trend may not live up to its appearances, as noted in RealtyTrac’s 2016 U.S. Residential Property Vacancy Analysis report for the first quarter.
- According to a report by RealtyTrac, vacancies are down 9.3 percent from the previous third quarter analysis.
- All of this may be good news for sellers and landlords, but it’s bad news for buyers and renters, said Daren Blomquist, RealtyTrac’s vice president.
- The low levels of open housing may be pushing market and rental prices upward.