Boston Real Estate Investors Association

The fourth quarter sees an increase in zombie foreclosures

Zombie Foreclosures Rise in Q4 - Real Estate Investing Today

According to ATTOM Data’s Q4 2023 Vacant Property and Zombie Foreclosure Report, there were approximately 1.3 million vacant residential properties in the United States. This accounts for 1.27% of homes nationwide, or one in every 78 homes. The vacancy rate remained virtually unchanged from the previous quarter. The report also revealed that there were around 8,900 zombie foreclosures, which are pre-foreclosure properties abandoned by their owners, in Q4. This represents a slight increase of 1.4% from the previous quarter and a 15.3% increase from the previous year. It is the seventh consecutive quarterly rise in zombie foreclosures. ATTOM CEO Rob Barber noted that the rise in home values and resulting equity has prevented a surge in foreclosures since the moratorium was lifted. Delinquent homeowners have been able to use their equity to avoid eviction or sell their homes. This has prevented widespread abandonment that occurred after the housing market crash in the late 2000s. For more information, you can read the full report at ATTOM’s website.

Zombie Foreclosures Rise in Q4

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