This year’s spring market was one for the history books as price spikes for single-family homes persisted in May.
According to the most recent S&P CoreLogic/Case-Shiller Indices, home prices saw a 16.6% gain in May, up from 14.8% in April. The price surge marked the second consecutive month of record-setting performance, according to experts.
National vacancy rates in the second quarter 2021 were 6.2% for rental housing and 0.9% for homeowner housing, according to the latest data from the Commerce Department. The rental vacancy rate increased 0.5 percentage points YoY (by 5.7%) and is 0.6 percentage points lower than the rate in the first quarter 2021 (6.8%). The homeowner vacancy rate of 0.9% remained flat YoY and virtually the same as the rate in the first quarter 2021 as well.