Vacant homeowner units.-- The proportion of vacant homeowner units in multiunit structures (3 units or more) increased from 7 percent in the second quarter 1970 to 11 percent in the second quarter 1971. In metropolitan areas, the proportion of homeowner vacancies in structures with 3 units or more increased from 9 percent to 17 percent.

In the second quarter 1971, the median sale price asked for vacant single-family dwellings was $16,400 which is not statistically different from the $17,300 in the second quarter 1970. Approximately one-fifth of the vacancies offered for sale in the second quarter 1971 had not been previously occupied.

In the second quarter 1971, one-fourth of the vacancies for sale had an asking price of less than $10,000 and about one-third were offered at $20,000 or more. Almost all the homes priced below $10,000 had been built before 1960 and sixtenths had only one or two bedrooms (table 8). Two-thirds of the units in this price range had been vacant for 4 months or longer and almost all had been previously occupied. In contrast, approximately two-thirds of the vacancies offered at $20,000 and upward were recently built. About three-fourths of the homes had at least three bedrooms and approximately one-half had been vacant 4 months or longer. About two-fifths of the homes in this category had not been previously occupied.

About 2 out of 3 of the "less than $10,000" vacancies were in nonmetropolitan areas; whereas approximately one-fourth of the "$20,000 or more" vacancies were located in these areas.

Data on rent and price asked exclude units in rural areas that were located on places of 10 acres or more. The rent or price asked is for available vacant units and may not represent the current rent level of renter-occupied units or the current value of owner-occupied homes. Further, the rent or price is the amount asked at the time of enumeration and may differ from the rent contracted for or the selling prince.

VACANT UNITS NOT ON THE MARKET

The vacancy rates in rental and homeowner housing describe the market conditions for available vacant housing. To analyze the total vacancy situation, vacant units not on the market must be considered. Vacant units not on the available market comprise units that have already been rented or sold, units held by the owner, dilapidated units, and vacant units intended only for seasonal occupancy.

Of all housing units in the United States in the second quarter 1971, approximately 0.7 percent were vacant units which had been rented or sold but not yet occupied (and were for year-round use and not dilapidated).

Units held off the rental or sale market (also for year-round use and not dilapidated) amounted to 3.0 percent. The rates were highest in the South and West, 3.6 percent and 3.5 percent, respectively. The North Central Region ranked second with 2.9 percent, and the Northeast continued to have the lowest rate, 2.0 percent.

Of the total vacant units held off the market, about three-tenths were reserved for the owner's occasional use as a second home, two-tenths were temporarily occupied by persons who lived elsewhere and the remainder were held for personal reasons of the owner or for some other reason.

Year-round vacancies which were dilapidated constituted 0.5 percent of the total housing inventory. The proportion for dilapidated vacancies. was substantially higher outside SMSA's than inside SMSA's. Because of their structural condition, dilapidated vacancies for rent or for sale are not considered part of the supply that is on the market.

Seasonal units which were vacant accounted for 2.4 percent of the total housing inventory. Vacation homes for summer or winter recreational use comprised about nine-tenths of the total seasonal units. The remaining one-tenth consisted of cabins and houses reserved for loggers, herders, or migratory farm laborers who would occupy the quarters during the work season. Practically all (99 percent) of the seasonal units were in sound or deteriorating condition.

OCCUPANCY AND VACANCY RATES

The percentage of all housing units that are vacant and available for rent and the percentage available for sale in tables 9 and 10 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, 4.9 percent, expresses the relationship between vacant housing that is offered for rent and the total rental supply. Similarly, the homeowner vacancy rate, 0.9 percent, expresses the relationship between vacant housing offered for sale and the total homeowner supply. The available-for-rent rate of 1.7 percent and the available-for-sale rate, 0.5 percent, are based on total housing units, which comprise rental units, homeowner units, and all vacant units.