US Vacant Housing Stock Surges as Population Growth Fades
Between Q2 2025 and Q2 2026, the U.S. housing market added 1.507 million units, bringing the total to 149.45 million, according to the Census Bureau. This increase could accommodate about 3.47 million people, based on an average household size of 2.3. However, the population growth slowed to 757,000 during this time due to stricter immigration policies. Over the past five years, housing stock grew by 7.51 million units, while the population increased by 10.4 million. In Q2, there were 15.64 million vacant homes, with 12.22 million being year-round vacancies. Notably, for-sale units surged by 7.2% to 1.02 million, the highest rise in five years.
Key facts
- US housing stock grew by 1.507 million units in 12 months through Q2 2026 to 149.45 million.
- Population growth was 757,000 over the same period.
- Average household size is 2.3 people per unit.
- Vacant housing units totaled 15.64 million in Q2.
- Year-round vacant units were 12.22 million (8.2% of stock).
- Vacant on market for sale or rent rose 5.5% to 4.75 million, highest since Q3 2017.
- Vacant for-rent units hit 3.73 million, most since 2013.
- Vacant for-sale units rose 7.2% to 1.02 million.
- Over five years, vacant for-sale units surged 41% (297,000 units).
- In the South, new home inventory up 71% from 2019, sales down 8%.
- In the West, new home inventory up 22%, sales down 50%.
Entities
Institutions
- Census Bureau
- Wolf Street
- Zillow
- WOLF STREET
Locations
- United States
- South
- West