
The Census Bureau and the Wall Street Journal reported Wednesday that the nation’s seasonally adjusted home-ownership rate stood at 66.1% in the third quarter, up slightly from 66% in the previous quarter, though down from 66.7% a year earlier. The rental vacancy rate was 9.8%, up from 9.2% in the second quarter and down from 10.3% a year earlier.Rentals will continue to have strength as the displaced homeowners move into the rental marketplace.
Industry watchers warn against reading too much into results from a single quarter. The increase is small and the number might begin declining again in the fourth quarter, when colder weathermeans fewer
Americans buy homes. Paul Dales, a senior U.S.economist with Capital Economics, said he was initially surprised by the increase. “I don’t think this alters the long term trends that have been going on,” he said. “The overall housing market will remain weak and the rental market will remain strong.”
It appears that the status quo might remain for a while. Many believe that 2012 will be virtually flat but that it will be a great year to buy investment property.
We have an incredible track record with short sales. Get my free book Fighting Foreclosure at www.shortsaledignity.com


























Follow Us!