Roughly 1.4 million residential properties, or about 1.3% of all US homes, were vacant during the third quarter, according to data from ATTOM, which also found 7,519 pre-foreclosure homes, or 3.38% of the 222,318 properties in the process of foreclosure, were “zombie” properties abandoned by their owners.
The rate of zombie properties inched up from 3.30% in the second quarter and from 3.14% in the third quarter of 2024. Quarter-over-quarter, the number of zombie properties rose in 23 states, albeit by single-digit or small double-digit amounts, while the level declined in 23 states and the District of Columbia while remaining unchanged in four states.
ATTOM also determined that investor-owned properties more likely to become zombie properties. Of the roughly 24.9 million investor-owned properties in the third quarter, 3.6% (882,336) were vacant.
“Vacant and zombie homes can hurt the value of surrounding properties and start a negative spiral in a local housing market,” said Rob Barber, CEO of ATTOM. “While we’ve seen the rate of zombie homes tick up a tiny bit this quarter, the overall rate of vacant homes and homes in the foreclosure process has remained remarkably steady. While there remain some markets with worryingly high rates of vacancies, as a whole it appears that the nation’s buyers are quickly filling homes that become available.”
Photo courtesy of Cinema Crazed
