A clear indication of what is to happen next in housing….is this report from the commerce department.

Keep in mind, in a healthy real estate market there are between 4,000,000 and 5,000,000 home sales in the US. Basic math would suggest that the nation has at least a 4-5 year supply of homes currently for sale…

The Commerce Department reported that the number of vacant housing units in the United States increased to a record 19 million in the first quarter of the year, up from 18.9 million in the fourth quarter. About 14.5% of homes were vacant, with 4.4 million available to be rented and 2 million available to be sold. The vacancy rate for rentable units fell to 10.6% from 10.7% in the fourth quarter. The vacancy rate for homes ready to be sold was steady at 2.7%. In the past year, the housing inventory rose by 1.14 million to 130.9 million, while occupied homes increased by 1.07 million to 111.9 million.

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