ATTOM Report: Over 1.5 Million Vacant U.S. Homes | Think Realty | A Real Estate of Mind
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ATTOM Report: Over 1.5 Million Vacant U.S. Homes

Foreclosures

A total of 9,612 properties nationwide facing possible foreclosure have been vacated by their owners.

Attom Data Solutions recently released its Vacant Property and Zombie Foreclosure Report. The results showed there are 1,530,563 U.S. single-family homes and condos vacant in third quarter of 2019, which represents 1.6 percent of all homes.

Attom Data collects and analyzes publicly recorded real estate information like foreclosure status, equity, and owner-occupancy status matched with updated vacancy status. While the count of properties in the process of foreclosure (304,000 homes) is down by nearly 22 percent since ATTOM’s last foreclosure vacancy report in the same period of 2016, the vacancy number has dropped nearly in half. A total of 9,612 properties nationwide facing possible foreclosure have been vacated by their owners.

High-level findings from the report:

  • Washington, D.C. had the highest percentage of zombie foreclosures (12.5 percent). States where the rates were above the national average of 3.2 percent included Oregon (8.8 percent), Maine (8.5 percent), Kansas (7.6 percent) and New Mexico (7 percent). The lowest rates – all less than 1.4 percent – were in New Hampshire, Idaho, Colorado, Connecticut and Delaware.
  • New York had the highest actual number of zombie properties (2,428), followed by Florida (1,634), Illinois (985), and Ohio (891).
  • Among metropolitan areas with at least 100,000 residential properties, Peoria, IL, had the highest percent of vacant foreclosures (zombies) at 16.5 percent, followed by Wichita, KS (9.5 percent), Syracuse, NY (9.3 percent), Honolulu, HI (8.5 percent) and Youngstown, OH (8.4 percent).
  • Among zip codes with at least 100 properties in pre-foreclosure, the highest rates of owner-vacated properties were concentrated in New York, Florida, Ohio and Illinois.
  • The top zombie foreclosure rates in counties with at least 500 properties in foreclosure included Peoria County, IL (21.9 percent); Baltimore City, MD (11.4 percent); Broome County, NY (11.1 percent); Onondaga County, NY (9.6 percent) and Madison County, IL (9.6 percent).
  • The highest levels of vacant investor-owned properties were in Indiana (8.8 percent), Kansas (6.7 percent), Minnesota (6.0 percent), Ohio, (5.9 percent) and Rhode Island (5.8 percent).

 

Read the full article here.