as

The rates

Units held off the rental or sale market (and for year-round use and not dilapidated) amounted to 2.9 percent, about the same the rate for the preceding quarter. showed little variation among the North Central, South, and West Regions. The percentages were 2.8 for the North Central Region, 3.4 for the South, and 3.5 for the West. The rate continued to be lowest in the Northeast, where it was 2.0 percent. The proportion for units held off the market was substantially lower in metropolitan areas than in the nonmetropolitan territories.

The "held off market" group includes units reserved for the owner's use as a second home, units temporarily not on the market for personal reasons of the owner, and units not offered for rent or sale because they are located in places where there is little demand for them. The owner's intended use of the unit may change from time to time, so that a vacant unit may shift into and out of the "held off market" category.

were dilapi

are

Year-round vacancies which dated constituted 0.7 percent of the total housing. These vacancies were found largely outside SMSA's. Because of their structural condition, dilapidated vacancies are not considered part of the supply that is on the market. Vacancies in the dilapidated group among the units most likely to drop out of the housing inventory. Vacant units which are intended for occupancy as living quarters are included in the inventory even though they are dilapidated; however, vacant units which are unfit for human habitation or deteriorated to the extent that they are no longer considered living quarters are not included in the statistics for this report.

Seasonal units which were either vacant or occupied temporarily by persons who had a usual residence elsewhere amounted to 3.1 percent of the total housing inventory. Vacation homes for summer or winter recreational use comprised approximately nine-tenths of the total seasonal units. The remaining one-tenth consisted of cabins and houses reserved for loggers, herders, herders, or migratory farm laborers who would occupy the quarters during the work

season.

Available vacant units

The percentage of all housing units that are vacant and available for rent and the percentage available for sale in table 3 do not

show any smaller vacancy supply than that indicated by the rental and homeowner vacancy rates in tables 1 and 2; they merely reflect different bases, as shown in table 4. The rental

vacancy rate, 7.7 percent, expresses the relationship between vacant housing that is offered for rent and the total rental supply. Similarly, the homeowner vacancy rate, 1.5 percent, expresses the relationship between vacant housing offered for sale and the total homeowner supply. The available-for-rent rate of 2.8 percent and the available-for-sale rate,