ADVERTISEMENT
  • News
  • New York
  • Technology
  • Culture
  • Entertainment
  • Sport
  • More
    • Politics
    • Lifestyle
    • TV
    • Games
Saturday, July 19, 2025
  • Login
No Result
View All Result
NEWSLETTER
FINCHANNEL
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • Americas
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • lifestyle
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • Americas
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • lifestyle
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE
No Result
View All Result
FINCHANNEL
No Result
View All Result
Home Business RealEstate

U.S. Residential Property Vacancy Rate Drops 9.3 Percent Between Q3 2015 and Q1 2016

Daren Blomquist by Daren Blomquist
February 11, 2016
in RealEstate
Reading Time: 4 mins read
8
A A
0
Share on FacebookShare on Twitter

The FINANCIAL — RealtyTrac on February 11 released its Q1 2016 U.S. Residential Property Vacancy Analysis, which shows that out of nearly 85 million residential properties (1 to 4 units) nationwide, more than 1.3 million (1.6 percent) were vacant at the beginning of February 2016, down 9.3 percent from the last residential property vacancy analysis in the third quarter of 2015.

The analysis used RealtyTrac’s publicly recorded real estate data — including foreclosure status (zombie foreclosures), owner-occupancy status, and equity — matched against monthly updated vacancy data from the U.S. Postal Service.

“With several notable exceptions, the challenge facing most U.S. real estate markets is not too many vacant homes but too few,” said Daren Blomquist, vice president at RealtyTrac. “The razor-thin vacancy rates in many markets are placing upward pressure on home prices and rents. While that may be good news for sellers and landlords, it is bad news for buyers and renters and could be bad news for all if prices and rents are inflated above tolerable affordability thresholds.”

RelatedPosts

Should You Fix Up Your House or Sell It As-Is?

New York Construction Company Supervisor Sentenced for Attempting to Cover Up Role in Fatal Long Island Construction Incident

Tips for Remodeling on a Budget

Why Tbilisi Real Estate Investing is Buzzing Right Now

Among 147 metropolitan statistical areas with at least 100,000 residential properties, those with the highest share of vacant properties were Flint, Michigan (7.5 percent), Detroit (5.3 percent), Youngstown, Ohio (4.4 percent), Beaumont-Port Arthur, Texas (3.8 percent), and Atlantic City, New Jersey (3.7 percent).

Other major metro areas with vacancy rates above the national average included Indianapolis (3.0 percent), Tampa (2.9 percent), Miami (2.8 percent), Cleveland (2.8 percent), and St. Louis (2.6 percent).

“Across the Ohio markets, occupancy demand is fueling a robust seller’s market for residential and commercial real estate,” said Michael Mahon, president at HER Realtors, covering the Ohio markets of Dayton, Columbus and Cincinnati. “With vacancy rates low, situations such as leasebacks and delayed occupancy are factors of concern in trying to get timing aligned for possession transfer in many communities. Couple this demand with the added necessary timing factors of the new Federal TRID disclosure process for 2016, and there is an even more heightened need for clear and consistent communication between buyers and sellers involving the timing and expectations of possession transfer regarding real estate transactions.”

Metro areas with the lowest share of vacant properties were San Jose, California (0.2 percent), Fort Collins, Colorado (0.2 percent), Manchester, New Hampshire (0.3 percent), Provo, Utah (0.3 percent), Lancaster, Pennsylvania (0.3 percent), and San Francisco (0.3 percent).

Other major metro areas with vacancy rates below the national average included San Francisco (0.3 percent), Los Angeles (0.4 percent), Boston (0.5 percent), Denver (0.5 percent), and Washington, D.C. (0.5 percent).

“Due to Seattle’s growing economy, high in-migration, and limited housing supply, it’s no surprise that our market has a low number of vacant homes relative to the national average,” said Matthew Gardner, chief economist at Windermere Real Estate, covering the Seattle market, where the overall vacancy rate of 0.9 percent and the investment property vacancy rate of 2.4 percent were both more than 40 percent below the national average. “This is also true as it relates to investment property vacancies. Rents across the board are rising in Seattle, but single family home rentals in some areas are providing a more affordable option to traditional apartments.

See also  New York Construction Company Supervisor Sentenced for Attempting to Cover Up Role in Fatal Long Island Construction Incident

“When considering the number of so called, ‘zombie foreclosures’ in Seattle, the reason for the slightly elevated level is due to the fact that banks continue to ‘cherry-pick’ which homes go to the front of the line when pursuing foreclosure proceedings,” Gardner continued. “In a market where values are increasing, these will be the homes that have regained positive equity. In aggregate, I anticipate that the level of zombie foreclosures in Seattle will continue to drop to historic average levels.”

Investment properties account for three-quarters of all vacant homes

Investment properties accounted for 76.7 percent (1,044,599) of all vacant properties nationwide. Among metro areas with at least 100,000 residential properties, those where investment properties accounted for the highest share of vacant homes were Myrtle Beach, South Carolina (95.0 percent), Barnstable, Massachusetts (93.5 percent), Salisbury, Maryland (91.9 percent), Lexington, Kentucky (91.8 percent), and Asheville, North Carolina (90.6 percent).

The report also found that investment properties are more likely to be vacant (4.3 percent vacancy rate nationwide), but investment property vacancy rates are 3 percent or below in more than one-third of U.S. markets — good news for landlords but bad news for renters in those markets.

Among metro areas with at least 100,000 residential properties, those with that highest share of vacant investment properties were Flint, Michigan (23.1 percent), Detroit (15.1 percent), Youngstown, Ohio (11.4 percent), South Bend, Indiana (10.9 percent), and Indianapolis (10.8 percent).

Metro areas with the lowest share of vacant investment properties were Fort Collins, Colorado (0.6 percent), San Jose, California (0.7 percent), Fayetteville, Arkansas (0.8 percent), Provo, Utah (0.9 percent), and San Francisco (0.9 percent).

Vacant “zombie” foreclosures down 4 percent nationwide, up in a minority of markets

Properties in the foreclosure process accounted for 1.5 percent (19,793) of all vacant properties nationwide, but the number of these “zombie” foreclosures was down 4 percent from a year ago when there were 20,575 nationwide.

States with the biggest increase in zombie foreclosures from a year ago included Massachusetts (up 167 percent), Oklahoma (up 89 percent), Michigan (up 71 percent), Arizona (up 52 percent), and New Jersey (up 49 percent).

Metro areas with the biggest increase in zombie foreclosures from a year ago included Worcester, Massachusetts (up 163 percent), Providence, Rhode Island (up 148 percent), Boston (up 111 percent), St. Louis (up 108 percent), and Detroit (up 71 percent).

Metro areas with the biggest increase in zombie foreclosures from a year ago included Worcester, Massachusetts (up 163 percent), Providence, Rhode Island (up 148 percent), Boston (up 111 percent), St. Louis (up 108 percent), and Detroit (up 71 percent).

 

Related Posts

Existing-Home Sales Spring Ahead in March
RealEstate

Should You Fix Up Your House or Sell It As-Is?

by Daren Blomquist
July 15, 2025
0

Key Takeaways: Selling as-is offers speed and convenience but often means accepting a lower sale price. Making strategic repairs can...

Read more
New York Construction Company Supervisor Sentenced for Attempting to Cover Up Role in Fatal Long Island Construction Incident

New York Construction Company Supervisor Sentenced for Attempting to Cover Up Role in Fatal Long Island Construction Incident

July 2, 2025
Tips for Remodeling on a Budget

Tips for Remodeling on a Budget

June 17, 2025
Why Tbilisi Real Estate Investing is Buzzing Right Now

Why Tbilisi Real Estate Investing is Buzzing Right Now

June 3, 2025

Discussion about this post

  • Trending
  • Comments
  • Latest
Teaching porn literacy

A sizable percentage of internet porn users, roughly 40% are women

January 17, 2024
Ampersand wins £22m five-year contract at London Zoo

Ampersand wins £22m five-year contract at London Zoo

June 25, 2012
EasyJet to fly to London from Stockholm Arlanda

The London Diplomatic List, Addresses, Contacts & Working Hours

January 23, 2023
Teaching porn literacy

Teaching porn literacy

January 17, 2024
OCCRP investigation: Danish Company Affiliate Helping Russians Export Grain From Occupied Ukraine

OCCRP investigation: Danish Company Affiliate Helping Russians Export Grain From Occupied Ukraine

July 16, 2025
OCCRP investigation: Danish Company Affiliate Helping Russians Export Grain From Occupied Ukraine

OCCRP investigation: Danish Company Affiliate Helping Russians Export Grain From Occupied Ukraine

July 16, 2025
How Mark Lamberti Challenged Retail Convention in the Last Days of Apartheid

How Mark Lamberti Challenged Retail Convention in the Last Days of Apartheid

July 16, 2025
Existing-Home Sales Spring Ahead in March

Should You Fix Up Your House or Sell It As-Is?

July 15, 2025
Richard Branson: What’s one daily habit that has shaped you as a person?

Richard Branson: What’s one daily habit that has shaped you as a person?

July 11, 2025
Most Americans continue to say media scrutiny keeps politicians from doing things they shouldn’t

Dramatic rise in the number of journalists killed in six months



July 11, 2025
ADVERTISEMENT

Popular Last 24h

  • Ampersand wins £22m five-year contract at London Zoo

    Ampersand wins £22m five-year contract at London Zoo

    4157 shares
    Share 1663 Tweet 1039
  • The London Diplomatic List, Addresses, Contacts & Working Hours

    3404 shares
    Share 1362 Tweet 851
  • Teaching porn literacy

    371 shares
    Share 148 Tweet 93
  • A sizable percentage of internet porn users, roughly 40% are women

    929 shares
    Share 372 Tweet 232
  • 3 New Rules To Take Control of Your Financial Future  

    31 shares
    Share 12 Tweet 8
  • A Landmark Rolls-Ryce Debut in Georgia

    159 shares
    Share 64 Tweet 40

LATEST POSTS

OCCRP investigation: Danish Company Affiliate Helping Russians Export Grain From Occupied Ukraine

OCCRP investigation: Danish Company Affiliate Helping Russians Export Grain From Occupied Ukraine

July 16, 2025
How Mark Lamberti Challenged Retail Convention in the Last Days of Apartheid

How Mark Lamberti Challenged Retail Convention in the Last Days of Apartheid

July 16, 2025
Existing-Home Sales Spring Ahead in March

Should You Fix Up Your House or Sell It As-Is?

July 15, 2025
Richard Branson: What’s one daily habit that has shaped you as a person?

Richard Branson: What’s one daily habit that has shaped you as a person?

July 11, 2025
Most Americans continue to say media scrutiny keeps politicians from doing things they shouldn’t

Dramatic rise in the number of journalists killed in six months



July 11, 2025
Euro area international trade in goods surplus €7.3 bn

Trade talks EU–US: Trade in services should be taken into account

July 11, 2025
Private Equity Giant H.I.G. Capital Nets Strong Returns on Jewelry Brand While Betting Big on Canadian Fuel Services

Private Equity Giant H.I.G. Capital Nets Strong Returns on Jewelry Brand While Betting Big on Canadian Fuel Services

July 11, 2025
Update by The Florida Department of Transportation: Key Improvements

Update by The Florida Department of Transportation: Key Improvements

July 11, 2025
Smart Storage: Creative Ways Mini-Storage Buildings Are Meeting Modern Needs

Smart Storage: Creative Ways Mini-Storage Buildings Are Meeting Modern Needs

July 11, 2025
Moldova’s Virtual IT Park Attracts Global Attention with Record Growth and €1 Billion Revenue Target

Moldova’s Virtual IT Park Attracts Global Attention with Record Growth and €1 Billion Revenue Target

July 9, 2025

LATESTBUSINESS

Existing-Home Sales Spring Ahead in March

Should You Fix Up Your House or Sell It As-Is?

by Daren Blomquist
July 15, 2025
0

Private Equity Giant H.I.G. Capital Nets Strong Returns on Jewelry Brand While Betting Big on Canadian Fuel Services

Private Equity Giant H.I.G. Capital Nets Strong Returns on Jewelry Brand While Betting Big on Canadian Fuel Services

by Daren Blomquist
July 11, 2025
0

Smart Storage: Creative Ways Mini-Storage Buildings Are Meeting Modern Needs

Smart Storage: Creative Ways Mini-Storage Buildings Are Meeting Modern Needs

by Daren Blomquist
July 11, 2025
0

Moldova’s Virtual IT Park Attracts Global Attention with Record Growth and €1 Billion Revenue Target

Moldova’s Virtual IT Park Attracts Global Attention with Record Growth and €1 Billion Revenue Target

by Daren Blomquist
July 9, 2025
0

wall_street_sign.jpg

Wall Street Giants Now Worth $59.7 Trillion, More Than the GDP of the U.S., China, and Germany Combined

by Daren Blomquist
July 9, 2025
0

Are You Really Targeting the Right Customer

Are You Really Targeting the Right Customer

by Daren Blomquist
July 8, 2025
0

Prominent Georgian Businessman Behind Euronews and National Geographic Arrested in Tbilisi

Prominent Georgian Businessman Behind Euronews and National Geographic Arrested in Tbilisi

by Daren Blomquist
July 7, 2025
0

Etisalat and Ericsson trial Massive MIMO technology in the UAE

Global study shows 96% plan to increase yield focus in anticipation of market correction

by Daren Blomquist
July 7, 2025
0

GET IN TOUCH

Submit guest post/Letters to the Editor:

editor (at) finchannel.com

Sales & Marketing: (+995 558) 03 03 03 Email: marketing (at) finchannel.com

Whatsup: (+995 599) 96 52 52

Georgia:

(+995 599) 96 52 52 Email: editor (@) finchannel.com

Postal address: 17 Mtskheta str. Tbilisi, Georgia 0179 The FINANCIAL

RESOURCE

  • Work at the FINANCIAL
  • ePaper
  • Advertise in The FINANCIAL
  • Access ePaper
  • Guest posts
  • Contributed articles
  • AmericanStockNews
  • Coupon Codes
  • GLOSSY MAG
American Culture Center
ACC Partner

GUIDEBOOK

  • Meet our team
  • Invest in Georgia
  • Become contributor
  • Archive

FOLLOW US

  • Facebook
  • Twitter
  • Google+
  • Youtube
No Result
View All Result
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • Americas
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • lifestyle
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE

© 2025 Intelligence Group llc

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.