Vacant and Work-Needed Homes Increasing

As of April 2024, the U.S. Census Bureau estimates there are about 15.1 million vacant homes in the United States.

Additionally, 25 million homes built before the Great Recession are now between 20 and 40 years old and will soon need significant repairs. These issues include roofing problems, lead and mold concerns, and below-the-slab PVC plumbing that requires extensive work to fix.

This new market segment will soon make up about 20 percent of listings. Real Estate Agents may need to adjust to this climbing trend, affecting 1 out of 5 homes, Inman reports.

There is one group that is stepping up to the challenge: investors. Investor purchases now make up 29 percent (and increasing) of all single-family residential sales.

- JL