Housing Vacancy & Availability Analysis
2006 - 2020 | Research Paper Data
Note: California consistently maintained vacancy rates 3-4 percentage points below national averages throughout this period, indicating a persistently tight housing market.[9]
| Year | Housing Units[4] | Rental Vacancy[1] | Homeowner Vacancy[1] | Key Events[7][8] |
|---|---|---|---|---|
| 2006 | ~1,020,000 | 5.2% | ~1.8% | Housing bubble peak; heavy construction |
| 2007 | ~1,030,000 | 5.4% | ~2.2% | Foreclosure notices rising; bubble bursting |
| 2008 | ~1,040,000 | 5.7% | ~3.0% | Financial crisis; unprecedented homeowner vacancies |
| 2009 | ~1,045,000 | 5.98% (PEAK) | ~2.8% | Rental vacancy peaks; recession depths |
| 2010 | 1,048,907[2] | 5.6% | ~2.4% | 2010 Census; slow recovery begins |
| 2011 | ~1,055,000 | 5.3% | ~2.1% | Vacancies gradually returning to normal |
| 2012 | ~1,062,000 | 4.8% | ~1.8% | Market stabilization |
| 2013 | ~1,070,000 | 4.4% | ~1.5% | Recovery accelerating |
| 2014 | ~1,078,000 | 4.0% | ~1.3% | Tightening market |
| 2015 | ~1,086,000 | 3.5% | ~1.1% | Strong recovery |
| 2016 | ~1,094,000 | 3.00% (LOW) | ~0.9% | Post-crisis low for rental vacancy |
| 2017 | ~1,102,000 | 3.4% | ~0.8% | Market remains tight |
| 2018 | 1,111,227[4] | 4.2% | ~0.8% | Slight uptick in vacancies |
| 2019 | ~1,120,000 | 5.04%[3] | ~0.8% | ACS confirmed data |
| 2020 | 1,129,785[2] | 4.9% | 0.7% (HISTORIC LOW)[9] | 2020 Census; pandemic begins |
| Year | California[5] | National[1] | Difference |
|---|---|---|---|
| 2006 | 5.5% | 9.7% | -4.2% |
| 2007 | 5.8% | 9.7% | -3.9% |
| 2008 | 6.1% | 10.0% | -3.9% |
| 2009 | 7.6% | 10.6% (PEAK) | -3.0% |
| 2010 | 7.5% | 10.2% | -2.7% |
| 2011 | 6.1% | 9.5% | -3.4% |
| 2012 | 5.2% | 8.7% | -3.5% |
| 2013 | 5.1% | 8.3% | -3.2% |
| 2014 | 4.6% | 7.6% | -3.0% |
| 2015 | 4.2% | 7.1% | -2.9% |
| 2016 | 3.6% (LOW) | 6.9% | -3.3% |
| 2017 | 3.8% | 7.2% | -3.4% |
| 2018 | 4.0% | 7.0% | -3.0% |
| 2019 | 4.1% | 6.8% | -2.7% |
| 2020 | 4.0% | 6.5% | -2.5% |
| Metric | 2010 Census[2] | 2020 Census[2] | Change |
|---|---|---|---|
| Total Housing Units | 1,048,907 | 1,129,785 | +80,878 (+7.7%) |
| Occupied Units | 995,560 | 1,074,333 | +78,773 (+7.9%) |
| Vacant Units | 53,347 (5.1%) | 55,452 (4.9%) | +2,105 (+3.9%) |
| Owner-Occupied | 56.8% | 56.1% | -0.7% |
| Renter-Occupied | 43.2% | 43.9% | +0.7% |
| Year | Homes Listed for Sale | Months of Supply | Data Source |
|---|---|---|---|
| 2006 | ~15,000 | ~7 months | Estimated from C.A.R. trend data |
| 2007 | 17,250[7] | 9 months[13] | OC Register (June 2007 - confirmed) |
| 2008 | ~18,000-20,000 | ~15 months[13] | Estimated; CA statewide UII peaked |
| 2009 | ~14,000 | ~5 months | Estimated; foreclosures clearing inventory |
| 2010 | ~12,000 | ~5 months | Estimated from recovery trend |
| 2011 | ~11,000 | ~4 months | Estimated from recovery trend |
| 2012 | ~9,000 | ~3.5 months | Estimated; "not enough inventory"[14] |
| 2013 | ~8,000 | ~3 months | Estimated from tightening trend |
| 2014 | ~7,500 | ~3 months | Estimated from tightening trend |
| 2015 | ~7,000 | ~2.5 months | Estimated from tightening trend |
| 2016 | ~6,500 | ~2 months | FRED data begins mid-2016 |
| 2017 | 5,936[7] | ~2 months[7] | OC Register (June 2017 - confirmed) |
| 2018 | ~6,200 | ~2 months | FRED ACTLISCOU6059 data |
| 2019 | ~5,500 | ~2 months | FRED ACTLISCOU6059 data |
| 2020 | ~4,500 | ~1.5 months | FRED data; pandemic impact begins |
Data Limitations: Comprehensive year-by-year inventory data is limited. FRED/Realtor.com data begins July 2016. Pre-2016 figures are estimated based on California Association of Realtors Unsold Inventory Index trends, OC Register reporting, and market analysis. Confirmed data points are marked with citations. For exact historical figures, contact C.A.R. or access CoreLogic/ATTOM archives.
| Metric | June 2007[7] | Peak Crisis (~2009)[8] | June 2017[7] |
|---|---|---|---|
| Default Notices | 1,144 | ~3,500/month | 310 |
| Actual Foreclosures | 281 | ~1,500/month | 21 |
| Foreclosed Properties Available | 463 | ~5,000+ | 27 |
| Homes Listed for Sale | 17,250 | ~20,000+ | 5,936 |
| Distressed Sales % | 13% | ~50% | <5% |
Housing construction peaked with 209,000 permits statewide in 2005.[11] By 2008, permits fell below 50,000/year. Homeowner vacancy hit unprecedented 3% (normally ~1.2%).[9] Easy credit and predatory lending created artificial demand.
Orange County rental vacancy peaked at 5.98% (2009).[1] Heavy vacancies blighted neighborhoods and provoked crime.[8] Foreclosures drove much of the vacancy. California median home price dropped 59% from peak.[7]