HOUSING INVENTORY

Housing Stock*

As of the second quarter of 2000 the estimate of the total housing stock, 119,481,000 units, increased a statistically insignificant 0.3 percent from the first quarter of 2000 and increased 0.1 percent above 1999's second quarter level. The number of occupied units was unchanged from the first quarter of 2000 but was 0.4 percent above the second quarter in 1999. Owner-occupied homes increased a statistically insignificant 0.1 percent from the first quarter of 2000 and were up 1.3 percent above last year's second quarter. Rentals decreased a statistically insignificant 0.2 percent from last quarter and decreased a statistically insignificant 1.3 percent from the second quarter of 1999. Vacant units were up 2.7 percent from last quarter but decreased 2.0 percent from 1999's second quarter.

*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 homeowner vacancy rate, at 1.5 percent, decreased a statistically insignificant amount from the first quarter of 2000 and decreased a statistically insignificant 0.1 percentage point from the second quarter of 1999. The 2000 second quarter national rental vacancy rate, at 8.0 percent, was a statistically insignificant increase from the previous quarter but decreased a statistically insignificant 0.1 percentage point from the same quarter of last year.

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

Homeownership Rates

The national homeownership rate rose to 67.2 percent in the second quarter of 2000. Though setting a new record, it was up a statistically insignificant 0.1 percentage point from last quarter but was up 0.6 percentage point from the second quarter of 1999. The homeownership rate for minority households decreased 0.4 percentage point from the first quarter of 2000 but increased 0.9 percentage point from the second quarter of 1999. The 60.3-percent homeownership rate for young households was down a statistically insignificant 0.5 percentage point from last quarter's rate but was up 1.0 percentage point from 1999's second quarter.

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