The United States housing market has been in the middle of a housing crunch for some time now. Between 2012 and 2022 there were 6.5 million more new households formed than homes built. Even after including multi-family units, the gap between housing units and households is 2.3 million. As the number of available homes has shrunk, prices have skyrocketed, and prospective homeowners have been forced into extreme bidding wars for properties. However, despite the general trend of a major shortage of housing in some markets, there are an estimated 1.3 million single-family homes currently sitting vacant across the country.

There are different reasons and explanations for why homes sit vacant during a housing crunch. Some of these homes are investment properties, like rental units that landlords are struggling to fill or homes that may eventually be put up for sale. In other cases, homes are simply abandoned, and the owners are either unable or unwilling to sell them.

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