Zombie Foreclosures Increase For Fourth Straight Quarter
The zombies are coming! Well, not exactly, but the number of zombie properties increased slightly in the first three months of 2023, according to a new report from ATTOM Data solutions.
The organization recently released its latest Vacant Property and Zombie Foreclosure Report, showing that 1,284,048 residential properties in the U.S. sit vacant—an increase of nearly 20,000 homes from the fourth quarter of 2022.
While vacant properties accounted for 1.3%, or one in 79 homes, nationwide—one out of every 12,415 homes in the first quarter of 2023 is vacant and in foreclosure.
The report also found that 298,533 residential properties in the U.S. are in the process of foreclosure in the first quarter of this year, a 5% uptick from the fourth quarter of 2022 and a 29.9% increase from the first quarter of 2022.
Among those pre-foreclosure properties, 8,141 are zombie foreclosures—pre-foreclosure properties abandoned by owners—in Q1 2023, up 5.4% from the previous quarter and up 10.6% from a year ago. The count of zombie properties has grown in each of the last four quarters. Read More…
