Three Percent of Homes Facing Possible Foreclosure Are Sitting Vacant

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Around three percent of all homes in the process of foreclosure are Zombies (sitting empty), according to ATTOM Data’s latest Vacant Property and Zombie Foreclosure Report.  According to the report, there were just over 1.5 million residential properties in the U.S. are vacant, representing 1.5% of all homes.  Of these, there were 258k homes are in the process of foreclosure, with about 7,650, or 3%, classified as “zombie foreclosures” in Q2 of 2020.

“The foreclosure and zombie-property picture hasn’t changed much in the second quarter of this year as most lenders are barred from taking action against homeowners who are falling behind on their mortgages. We are in a holding pattern across the country as long as the moratorium continues,” said Todd Teta, chief product officer with ATTOM Data Solutions.”

The report analyzed publicly recorded real estate data collected by ATTOM Data Solutions — including foreclosure status, equity, and owner-occupancy status — matched against monthly updated vacancy data.

Click here to read the full report at ATTOM Data.

 

 

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Director of Education & Outreach, National Real Estate Investors Association

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