HOUSING INVENTORY

Housing Stock*

As of the third quarter of 1999 the estimate of the total housing stock, 119,595,000 units, increased a statistically insignificant 0.2 percent from the second quarter of 1999 and increased 1.9 percent above 1998's third-quarter level. The number of occupied units rose from last quarter by a statistically insignificant 0.3 percent and was 1.6 percent above the same quarter in 1998. Owner-occupied homes were up a statistically insignificant 0.9 percent from the second quarter of 1999 and up 1.9 percent above the third quarter of 1998. Rentals decreased a statistically insignificant 1.0 percent from last quarter but increased a statistically insignificant 0.9 percent from the third quarter of 1998. Vacant units were down 0.2 percent from last quarter, but increased 4.2 percent from 1998's third 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 homeowner vacancy rate, at 1.6 percent, was unchanged from the second quarter of 1999 but was down a statistically insignificant 0.1 percentage point from the third quarter of 1998. The 1999 third-quarter national rental vacancy rate, at 8.2 percent, increased a statistically insignificant 0.1 percentage point from the second quarter of 1999 but was unchanged from the third 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 67 percent in the third quarter of 1999, up 0.4 percentage point from last quarter and up a statistically insignificant 0.2 percentage point from the third quarter of 1998. The homeownership rate for minority households increased 0.9 percentage point from the second quarter of 1999 and increased a statistically insignificant 0.2 percentage point from the third quarter of 1998. The 60.8-percent homeownership rate for young households was up 1.5 percentage points from last quarter's rate and was up a statistically insignificant 0.2 percentage point from 1998's third quarter.

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