Did you know that there are Zombie Foreclosures in the US? And they are RISING!!!
‘Zombie’ foreclosures are vacant homes that are in the foreclosure process.
According to a report by ATTOM, a top national curator of real estate data for land and property data, there are 1,264,241 vacant residential properties in the United States. This figure corresponds to 1.26 percent nationwide or one in every 79 households.
The report also shows that in the fourth quarter of this year, 284,423 residential properties in the United States were in foreclosure, up 5.2 percent from the third quarter of 2022 and 27.4 percent from the fourth quarter of 2021.
Among those pre-foreclosure properties, 7,722 are zombie foreclosures (pre-foreclosure properties abandoned by owners) in the fourth quarter of 2022, an increase of 0.2 percent from the previous quarter and 3.9 percent from a year earlier. Each of the last three quarters has shown an increase in the number of zombie properties.
In our latest episode, Matt and I talk about zombie foreclosures, design trends on their way out, and America’s only legally haunted house.