Number of vacant homes hits record high

WASHINGTON (AP) -- The Census Bureau says the percentage of vacant homes in the U.S. has hit a record high in the first quarter of this year.

The report, released Monday, shows that 2.9% of U.S. homes - excluding rental properties - were vacant, compared with 2.8% in the fourth quarter of 2007.

The West had the biggest gain in vacancy rates among homeowners, rising to 7% in the January-March period from 6.5% in the fourth quarter of 2007. Vacancy rates fell in the Midwest and South, but rose in the Northeast. See Also

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Source: Home Mortgage Rates and Real Estate News