Vacant Homes Sales Price Hitting Bottom?

OriginationNews says, according to the Census Bureau, the inventory of vacant homes for sale in Q1 2012 dropped to 1.65, 18 percent lower than one year ago. The number of vacant homes for sale was last below 1.6 million six years ago. MHProNews.com has learned from Census Bureau data the median sales price for these homes dropped only $100 to $133,700, last quarter of 2011 to first quarter this year, indicating perhaps the bottom of the barrel is near. The report notes the median sales price has fallen seven percent in one year. The Bureau also states the homeownership rate fell to 65.4 percent, one percent lower than one year ago, and the lowest since 1977.

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