Some markets, such as Florida, have been hit harder than others in the current market. Each quarter the U.S. Census Bureau publishes renter and homeowner vacancy rates; the 2007 4th quarter rate for homeowner vacancy of 2.8% is the highest since it began collecting this information in the 1960's. See more comments and the interactive map at
http://longbeachrealestate.blogspot.com/2008/03/long-beachlos-angeles-metropolitan-area.html