The Housing Market Conditions (HMC) report is a quarterly overview of housing market conditions in each of the seven states that comprise the Federal Reserve's Eighth District and the Metropolitan Statistical Areas (MSA) of Little Rock, Louisville, Memphis and St. Louis.
The share of seriously delinquent mortgages in the U.S. declined in the first quarter.
It should not surprise anyone that the homeownership rate has declined nationwide in the most recent years after a large number of foreclosures. Many former homeowners must have moved into rental units, pushing down the rental vacancy rate, as seen in the graph. What is surprising is that the homeowner vacancy rate is actually declining as well.