HOUSING INVENTORY

Housing Stock*

As of the third quarter of 1997, the estimate of the total housing stock, 115,804,000 units, was a statistically insignificant 0.1 percent above the level of the second quarter of 1997 and 1.1 percent above 1996's third-quarter level. The number of occupied units was up a statistically insignificant 0.4 percent from last quarter and was 1.3 percent above the same quarter in 1996. Owner-occupied homes were a statistically insignificant 0.7 percent above the level of the second quarter of 1997 and 1.9 percent above the third quarter of 1996. Rentals decreased a statistically insignificant 0.2 percent from last quarter and were unchanged from the third quarter of 1996. Vacant units decreased 2.2 percent from last quarter and a statistically insignificant 0.3 percent from 1996.

*Components may not add to totals because of rounding. Units in thousands. **This change is not statistically significant. Source: Bureau of the Census, Department of Commerce

Vacancy Rates

The 1997 third-quarter national rental vacancy rate, at 7.9 percent, was unchanged from last quarter and down a statistically insignificant 0.1 percentage point from the level of the third quarter of 1996. The homeowner vacancy rate, at 1.5 percent, was down a statistically insignificant 0.1 percentage point from last quarter and down 0.2 percentage point from the third quarter of 1996.

**This change is not statistically significant. 1Major changes related to the survey effective with 1994 first-quarter data. Source: Bureau of the Census, Department of Commerce

Homeownership Rates

The national homeownership rate reached an all time high of 66.0 percent in the third quarter of 1997, up a statistically insignificant 0.3 percentage point from last quarter and up 0.4 percentage point from the third quarter of 1996. The homeownership rate for minority households increased a statistically insignificant 0.3 percentage point from the second quarter and increased a statistically insignificant 0.5 percentage point from the third quarter of 1996. The 57.8-percent homeownership rate for young households was down 0.8 percentage points from last quarter's rate and unchanged from 1996's third quarter.

**This change is not statistically significant. Source: Bureau of the Census, Department of Commerce