HOUSING INVENTORY

Housing Stock*

As of the first quarter of 1999 the estimate of the total housing stock, 118,445,000 units, increased a statistically insignificant 0.7 percent from the fourth quarter of 1998 and increased 1.4 percent above 1998's first-quarter level. The number of occupied units rose from last quarter by a statistically insignificant 0.4 percent and was 1.3 percent above the same quarter in 1998. Owner-occupied homes were up a statistically insignificant 0.8 percent from the fourth quarter of 1998 and up 2.5 percent above the first quarter of 1998. Rentals decreased a statistically insignificant 0.3 percent from last quarter and decreased a statistically insignificant 0.9 percent from the first quarter of 1998. Vacant units were up 3.2 percent from last quarter and increased 2.2 percent from 1998's first quarter.

*Components may not add to totals because of rounding. Units in thousands. ** Statistically insignificant change. Source: Bureau of the Census, Department of Commerce

Vacancy Rates

The 1999 first-quarter national rental vacancy rate, at 8.2 percent, increased a statistically insignificant 0.4 percentage point from the fourth quarter of 1998 and was up a statistically insignificant 0.5 percentage point from the level of the first quarter of 1998. The homeowner vacancy rate, at 1.8 percent, was unchanged from the previous quarter and was up a statistically insignificant 0.1 percentage point from the first 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 66.7 percent in the first quarter of 1999, up a statistically insignificant 0.3 percentage point from last quarter, and increased 0.8 percentage point from the first quarter of 1998. The homeownership rate for minority households increased a statistically insignificant 0.4 percentage point from the first quarter and increased 1.1 percentage points from the first quarter of 1998. The 59-percent homeownership rate for young households was down 1.7 percentage points from last quarter's rate but was up a statistically insignificant 0.2 percentage point from 1998's first quarter.

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