Today’s low level of single-family construction still too much, too soon

Although there were only 618,000 single-family housing starts in 2013 – far below the pre-bubble average of 1.1 million per year, newly released data from the Census Bureau’s American Community Survey show that the vacancy rate for single-family homes increased a little bit in 2013, Trulia’s chief economist Jed Kolko reports.

According to Kolko, the increase in vacancies is no surprise, because households are forming slowly, and more young people are living with their parents. Multi-unit vacancies, on the other hand, are going down.

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