What percentage of housing units are vacant?

Answer: According to the CBO, about 14% … down about 1 pp from the recession high water mark … but about 3 pp higher than the historical average

The CBO says that even in normal times, the number of vacant housing units is substantial, reflecting:

  • the lengthy process of selling home
  • the number of second homes and “seasonal units”

Further, the CBO says: “excess vacant units account for about 2/3s of the slower pace of growth of residential during the current recovery relative to prior recoveries.”

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