WASHINGTON (MarketWatch) -- The glut of homes on the U.S. housing
market worsened in the first quarter, according to government data
released Monday. The number of vacant homes in the United States rose
by 1 million in the past year to a record 18.6 million, the Commerce
Department said. Of those 18.6 million vacant homes, a record 2.3
million were for sale at the end of the first quarter, pushing the
vacancy rate for owner-occupied units to a record 2.9%. Meanwhile, a
record 4.1 million vacant homes are for rent, with the rental vacancy
rate rising to 10.1%. The percentage of homes occupied by owners was
steady at 67.8% in the first quarter, matching the lowest percentage in
five years.
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