Q3 2022 Zombie Property Count to Grow Several Inches Again Across the U.S. as Foreclosure Activity Continues to Rise

Zombie listings are just one of 13,000 residential listings nationwide. However, the ratio has risen since the lifting of the foreclosure moratorium a year ago.

irvine, california, August 18, 2022 /PRNewswire/ — ATTOM, the leading curator of real estate data for national land and property data, today released its Q3 2022 Vacant Homes and Zombie Foreclosures Report, showing that 1.3 million (1,277,162) residential properties usa sit vacant This figure equates to her 1 in 1.3% of the nation, or 78 households.

Promoting innovation with real estate data (PRNewsfoto/ATTOM Data Solutions)

Promoting innovation with real estate data (PRNewsfoto/ATTOM Data Solutions)

This report analyzes publicly recorded real estate data collected by ATTOM (foreclosure status, stock, owner occupancy status, etc.) and matches it with monthly updated vacancy data. (See full methodology below). Availability data for US residential properties is available at https://www.attomdata.com/solutions/marketing-lists/.

The report also reveals that 270,470 residential properties in the US were in the process of foreclosure in the third quarter of this year. This is a 4.4% increase from Q2 2022 and a 25.5% increase from Q3 2021. The number of pre-foreclosure properties has increased for the fourth consecutive quarter since the nationwide moratorium on lenders tracking delinquent homeowners, imposed after the 2020 coronavirus pandemic, was lifted at the end of 2020. increase. July 2021.

Of these pre-foreclosure properties, 7,707 were zombie foreclosures (vacant home pre-foreclosure properties) in Q3 2022, up 1.8% from the previous quarter and 2.2% from a year ago.

“We can see two trends going in opposite directions: the number of vacant properties continues to decline and the number of zombie properties continues to rise, but neither trend seems particularly worrisome. not.” Rick Sharga, ATTOM’s Executive Vice President of Market Intelligence. “Vacancy rates should continue to be low as investors and prospective homebuyers compete for limited inventory. should continue to increase slowly.”

The number of zombie foreclosures remains historically low and continues to represent a small fraction of the total residential real estate inventory of 99.8 million. In the third quarter of 2022, 1 in 12,947 homes are vacant and foreclosed. That is, most areas do not yet have such properties. Meanwhile, the proportion of pre-foreclosure properties that are abandoned and zombied continues to decline from 3.5% a year ago to 2.9% in Q2 2022 and 2.8% in Q3 this year. increase.

However, the level of all homes empty as zombie properties has increased for the second consecutive quarter, up 3.6% from 1 in 13,424 in the first quarter of this year.

The latest surge in overall and zombie listings presents a notable problem, but it comes at a time when the U.S. housing market’s relentless boom continues for the 11th straight year.th Despite the forces that threaten to slow it down.

Zombie seizures are up again, but remain a small part of the overall market

In Q3 2022, a total of 7,707 residential properties face potential foreclosure, up from 7,569 in Q2 2022 and 7,538 in Q3 2021, by owners. Evicted by owner.

The problem remains non-existent in most regions, but the largest increase will be seen in states with at least 50 zombie seizures from Q2 2022 to Q3 2022. Oklahoma (22% increase in zombie properties from 97 to 118), Missouri (16% increase from 55 to 64), California (15% increase from 221 to 254), Massachusetts (up 9% from 54 to 59) and florida (8% increase from 922 to 998).

Largest quarterly decline among states with at least 50 zombie seizures kentucky (Zombie properties decreased by 14% from 63 to 54), Georgia (10% decrease from 80 to 72), new jersey (7% decrease from 257 to 240), pennsylvania (down 6% from 371 to 349) and Nevada (6% decrease from 86 to 81).

Overall vacancy rates continue to trend downward across most regions of the country

The vacancy rate for all U.S. residential properties fell to 1.28% (1 in 78 properties) in Q3 2022. This is down from 1.31% (1 in 76) in the second quarter of 2022 and 1.35% (1 in 74) in the third quarter of last year.

The states with the largest annual declines are: Tennessee (down from 2.33% of all homes in Q3 2021 to 1.34% in Q3 this year), Minnesota (down from 1.24% to 0.84%), Oregon (down from 1.26 percent to 0.95 percent), Wisconsin (down from 1.03% to 0.72%) and Georgia (down from 1.82% to 1.53%).

Other high-level findings for Q3 2022:

  • Among the U.S. metropolitan statistical areas with at least 100,000 residential properties and at least 100 properties facing potential foreclosure in the third quarter of 2022, the areas with the highest zombie rates are: . Wichita, Kansas (11.9% of properties under foreclosure are vacant); Peoria, Illinois (10.5%); Cleveland, Ohio (8.9%); Syracuse, New York (8.7%) and South Bend, Indiana (8.2 percent).

  • Besides clevelandwith at least 500,000 residential properties and at least 100 homes facing foreclosure in the third quarter of 2022, the highest zombie foreclosure rate in any major metropolitan area Baltimore, Maryland (7.4% of homes in foreclosure proceedings are vacant); St. Louis, Missouri (5.6%); Pittsburgh, Pennsylvania (5.6%); Tampa, Florida (4.7%) and Indianapolis, Indiana (4.6%).

  • Of the 27.9 million investor-owned homes nationwide in Q3 2022, about 888,000 will be vacant, or 3.2%.The highest level of vacant homes owned by an investor is Indiana (6.8%), Kansas (5.8%), Oklahoma (5.3%), Alabama (5%) and Ohio (5 percent).

  • Of the approximately 4,200 U.S. bank-owned homes foreclosed in Q3 2022, 8.2% are vacant. The state with more than 50 bank-owned homes has the highest vacancy rate. Ohio (14.5% vacancy rate), pennsylvania (13%), Illinois (12.5%), New York (11%) and Maryland (10.5%).

  • Here are the highest zombie foreclosure rates in US counties with more than 500 properties in foreclosure proceedings in the third quarter of 2022: Broome County (binghamton), NY (11.4% zombie seizures); Cuyahoga County (cleveland), OH (10.1%); Pinellas County (Shimizu), Florida (9.9%); Onondaga County (Syracuse), New York (9.3%), Oneida County, New York (outside Syracuse) (8.5%).

  • Of the 425 counties with more than 50,000 residential properties, the counties with the highest percentage of homes in zombie foreclosure in the third quarter of 2022 are: Broome County (binghamton), New York (1 in every 647 properties); Cuyahoga County (cleveland), OH (1 in 959); Suffolk County (eastern long island), New York (1 in 1,188); Peoria County, Illinois (1 in 1,228) and Oneida County, New York (outside Syracuse) (1 in 1,437).

Report methodology

ATTOM analyzed county tax assessor data on approximately 99 million vacant homes, categorized by foreclosure status and owner occupancy status. Only metropolitan areas with at least 100,000 residential properties and counties with at least 50,000 residential properties were included in the analysis. Availability data is available at https://www.attomdata.com/solutions/marketing-lists/.

about atom

ATTOM provides premium real estate data to power products that improve transparency, innovation, efficiency and disruption in the data-driven economy. ATTOM multi-sources property tax, deeds, mortgages, foreclosures, environmental risks, natural disasters, and neighborhood data for over 155 million U.S. residential and commercial properties covering 99% of the U.S. population. I’m here. A rigorous data management process involving more than 20 steps validates, standardizes and enriches the property data collected by ATTOM and assigns a permanent and unique ID (ATTOM ID) to each property record. The 20 TB ATTOM data warehouse serves many industries including mortgages, real estate, insurance, marketing, and government through flexible data delivery solutions including bulk file licensing, real estate data APIs, real estate market trends, real estate reports, and more. Promote innovation. It also introduces ATTOM Cloud, the latest innovative solution that provides instant access and streamlines data management.

Media contact:
Christine Stricker
[email protected]

Data and Reporting License:
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