by Calculated Risk on 2/02/2022 10:14:00 AM
The Census Bureau released the Residential Vacancies and Homeownership report for Q4 2021.
The results of this survey were significantly distorted by the pandemic in 2020.
This survey might show the trend, but I wouldn’t rely on the absolute numbers. Analysts probably shouldn’t use the HVS to estimate the excess vacant supply or household formation, or rely on the homeownership rate, except as a guide to the trend.
The homeowner vacancy rate of 0.9 percent was 0.1 percentage points lower than the rate in the fourth quarter 2020 (1.0 percent) and virtually the same as the rate in the third quarter 2021 (0.9 percent).
The homeownership rate of 65.5 percent was not statistically different from the rate in the fourth quarter 2020 (65.8 percent) and not statistically different from the rate in the third quarter 2021 (65.4 percent). “
The Red dots are the decennial Census homeownership rates for April 1st, 1990, 2000 and 2010. The Census Bureau will release data for 2020 soon.
Once again – this probably shows the general trend, but I wouldn’t rely on the absolute numbers.