The Census Bureau has released new stats for the first quarter of 2012, and both home ownership and rental vacancy rates have dropped. Other interesting findings: The median asking price for homes was $133,700 while the median rental price was $721. The reduction in rental vacancies is supposed to be a good omen for the market because it'll drive rental prices up. Bad news for renters, of course. More parsing at the links below.
· Residential Vacancies and Homeownership in the First Quarter 2012 [Census Bureau]
· Home Ownership Slips to 15-Year Low [Wall Street Journal]