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Vacancy rate increases as U.S. banks seize foreclosed homes

By The Examiner
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The share of homes vacant and for sale rose in the fourth quarter as banks seized property from borrowers who defaulted on mortgages.

The homeowner vacancy rate rose to 2.7 percent from 2.6 percent in the third quarter, the U.S. Census Bureau said in a report Tuesday. There were 2.09 million empty properties on the market, up from 1.99 million, according to the report.

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