According to data compiled by the Department of Commerce’s Census Bureau, the average homeownership rate in the United States for the fourth quarter fell to its 2001 level.

The rate of 67.5 percent was a 0.4 percent decrease from the third quarter of 2008, and a 0.3 percent decrease from the fourth quarter of 2007, but statistically, the Census said, it is a negligible drop. It does, however, match the rate of the fourth quarter of 2001.

The in regional statistics, the Midwest had the highest homeownership rate, 71.4 percent, followed closely by the South, 69.8 percent. The Northeast and West, while lower the national average at 64 percent and 62.7 percent, respectively, were not statistically different. The Census said all the rates saw little change from their corresponding rates last year.

Vacancy rates increased slightly. The vacancy rate for homeowner housing was 2.9 percent, up 0.1 percent from both the fourth quarter 2007 rate and the rate last quarter, which were both at 2.8 percent.

Rental vacancies were 10.1 percent in the fourth quarter of 2008, an increase from 9.6 percent last year, but a statistically negligible increase from its rate of 9.9 percent in the third quarter of 2008.

The Census said approximately 85 percent of the housing units in the United States in the fourth quarter 2008 were occupied and 15 percent were vacant, with 58 percent of those units being occupied by their owners. The 15 percent of vacant units comprised of 11 percent year-round use and 4 percent seasonal use.

Approximately 3 percent of the total units were for rent, 2 percent were for sale, and 6 percent were vacant for other reasons.

Austin Kilgore |  www.dsnews.com