California has the second-highest number of empty homes out of all 50 states
California has the second-highest number of empty homes out of all 50 states
California has one of the lowest vacancy rates in the country, but still has more empty homes than nearly every other state. Here's how many homes sit vacant.
This article is confusing at is uses the terms “vacancy rates” and “empty homes” the wording is very murky if they are attempting to compare rental versus home ownership. Even AI doesn’t usually write like this.
They have the largest state population. Over 20% more than the next populous state, Texas. The fact they aren't first is a miracle all its own.
nice catch: Largest state has second largest "empty" homes lol
In 2020, California had*
The article and the report it referenced were written in March 2022. The report was using data from 2020:
All the data used to conduct this study comes from the U.S. Census Bureau’s 2020 American Community Survey with one-year experimental estimates.
Sure, but for how hot the market supposedly is, there shouldn't really be any. There's a growing body of evidence that landlords are "warehousing" or intentionally keeping homes off the market to keep prices high because they're making all their money in appreciation, not rent.
Only just now got a notification of your reply, but it shows as posted 5 days ago - weird.
Why do you think the housing market is “hot?” I haven’t seen anyone saying that the housing market is currently hot - rather the opposite, with buyers not buying due to interest rates and sellers not wanting to lower prices below where they were in 2022. Prices have finally dropped from where they were last year, but that’s not indicative of a hot market.
Zillow thinks that San Francisco is expected to have the second lowest growing home values in 2025 (second only to New Orleans), and Sacramento and San Jose are both in the top 10 as well, so I don’t think CA is performing any better than the best of the country. And in the rest of the country, according to realtor.com, last month was the slowest November since 2019; the number of houses for sale has grown for 13 straight months and is now the highest it’s been since December 2019.