According to ATTOM Data’s Q4 2023 Vacant Property and Zombie Foreclosure Report, there were nearly 1.3 million residential properties in the U.S. sitting vacant. That figure represents 1.27%, or one in 78 homes, across the nation – virtually the same as in the third quarter. In addition, they report that there were around 8,900 zombie foreclosures (pre-foreclosure properties abandoned by owners) in Q4. That figure is up slightly from the prior quarter, by 1.4%, and up 15.3% from one year ago. The latest increase marks the seventh straight quarterly rise.
“…Rising equity flowing from rising home values has not only kept foreclosure cases from spiking since the moratorium was lifted. It also keeps giving delinquent homeowners a valuable resource they can use to either stave off eviction or sell their homes and move on. As a result, we continue to see none of the widespread abandonment that followed the housing market crash after the Great Recession of the late 2000s.” Said Rob Barber, CEO for ATTOM.