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Wednesday, July 27, 2011

Occupancy rates on the rise in some cities/regions

An article in today’s USA Today indicates that occupancy rates are increasing in some areas, partially driven by rental demand.  Click here to see the story.

Implications:    During the housing meltdown the foreclosures that followed, a significant number of folks moved-in with their parents, their adult children, or other extended family and friends to “ride-out” their housing transition.  This article might indicate that some of those families are getting back out on their own, and into their own dwelling.  It might also indicate that more homes that have been sitting empty in real estate purgatory over the past few years are finally being brought to market.  (For example, one of the homes my wife and I looked at more than two years ago was released for sale by the mortgage holder just a couple of months ago.)

This news bodes well for home furnishings stores, home improvement providers, and more.

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

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