Zombie Foreclosures Represent 1 in every 14k Homes – Real Estate Investing Today
According to ATTOM Data’s latest Vacant Property and Zombie Foreclosure Report, zombie foreclosures represent only one of every 14,825 homes in Q1, 2021, which they say are just a minuscule portion of the nation’s 99 million residential properties. In addition, they report that the states with the biggest increases from Q4 2020 in zombie properties, among those with at least 100 properties in pre-foreclosure in Q1 2021, included: Arkansas (up 63%), Texas (up 62%), Minnesota (up 32%), Massachusetts (up 24%) and Missouri (up 20%).
“These days, you can walk through most neighborhoods in the United States and not spot a single zombie foreclosure. That continues a remarkable turnaround from the last recession when many communities were dotted by abandoned properties…The trend does remain on thin ice because foreclosures are temporarily on hold, and the market is still at risk of another wave of zombie properties when the moratorium is lifted, depending on the general state of the broader economy. For the moment, though, zombie properties remain pretty much a non-issue in the vast majority of the country.” Said Todd Teta, chief product officer with ATTOM Data Solutions.
However…..the chart below reveals the 10 most populated U.S. Zip Codes with the greatest increase in vacant properties.