For full report, please click the source link above.
ATTOM: Vacant Property and Zombie Foreclosure Report
August 27, 2020
Source: ATTOM Data Solutions
IRVINE, Calif. – Aug. 27, 2020 — ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), today released its third-quarter 2020 Vacant Property and Zombie Foreclosure Report showing that 1.5 million (1,570,265) residential properties in the United States are vacant, representing 1.6 percent of all homes.
The report analyzes publicly recorded real estate data collected by ATTOM Data Solutions — including foreclosure status, equity, and owner-occupancy status — matched against monthly updated vacancy data. (See full methodology enclosed below). Vacancy data is available for U.S. residential properties at https://www.attomdata.com/solutions/marketing-lists/.
The third quarter analysis shows that about 216,000 homes are in the process of foreclosure, with about 7,960, or 3.7 percent, sitting empty as so-called ‘zombie foreclosures.’
The count of properties in the process of foreclosure (215,886) in the third quarter of 2020 is down 16 percent from the second quarter of 2020 (258,024). But the percentage of those properties that have been abandoned as zombie foreclosures is up from 3 percent in the second quarter of 2020.
Despite the increase, the 7,961 zombie foreclosure properties continue to represent just a tiny portion – one of every 12,500 homes – of the nation’s stock of 99.4 million residential properties.
The third-quarter 2020 data shows a drop in the number of homes at some point in the foreclosure process, but an increase in the level sitting vacant at a time when the federal government is trying to shield the housing market from an economic slide stemming from the worldwide Coronavirus pandemic.