High residential vacancies are killing many housing markets, as foreclosed homes sit on the market and depress sale prices and property values.And it's only getting worse: The national vacancy rate crept up to just over 13% according to last week's decennial census report. That's up from 12.1% in 2007.
"More vacant homes equal more downward pressure on home prices," said Brad Hunter, chief economist for Metrostudy, a real estate information provider.
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