HOUSING INVENTORY

Housing Stock*

As of the second quarter of 1999, the estimate of the total housing stock, 119,306,000 units, increased a statistically insignificant 0.7 percent from the first quarter of 1999 and 1.6 percent above 1998's second-quarter level. The number of occupied units rose from last quarter by a statistically insignificant 0.3 percent and was 1.3 percent above the same quarter in 1998. Owner-occupied homes were up a statistically insignificant 0.3 percent from the first quarter of 1999 and up 2.2 percent above the second quarter of 1998. Rentals increased a statistically insignificant 0.5 percent from last quarter but decreased a statistically insignificant 0.5 percent from the second quarter of 1998. Vacant units were up 3.5 percent from last quarter and increased 4.3 percent from 1998'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 1999 second-quarter national rental vacancy rate, at 8.1 percent, decreased a statistically insignificant 0.1 percentage point from the first quarter of 1999, and was up a statistically insignificant 0.1 percentage point from the level of the second quarter of 1998. The homeowner vacancy rate, at 1.6 percent, was down 0.2 percentage point from the first quarter of 1999 and was down a statistically insignificant 0.1 percentage point from the second quarter of 1998.

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 was 66.6 percent in the second quarter of 1999, down a statistically insignificant 0.1 percentage point from last quarter, and up 0.6 percentage point from the second quarter of 1998. The homeownership rate for minority households decreased 0.9 percentage point from the first quarter but increased 0.6 percentage point from the second quarter of 1998. The 59.3-percent home-ownership rate for young households was up a statistically insignificant 0.3 percentage point from last quarter's rate and was up a statistically insignificant 0.4 percentage point from 1998's second quarter.

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