• Resources
  • Blog
  • Journalists
  • Log In
  • Sign Up
  • Data Privacy
  • Send a Release
Cision PR Newswire: news distribution, targeting and monitoring home
  • News
  • Products
  • Contact

 

When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • All Public Company
      • English-only
      • News Releases Overview

      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
      • Multimedia Gallery Overview

      • Trending Topics

      • All Trending Topics
  • Business & Money
      • Auto & Transportation

      • All Automotive & Transportation
      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • Auto & Transportation Overview

      • View All Auto & Transportation

      • Business Technology

      • All Business Technology
      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • Business Technology Overview

      • View All Business Technology

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Financial Services & Investing

      • All Financial Services & Investing
      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • Financial Services & Investing Overview

      • View All Financial Services & Investing

      • General Business

      • All General Business
      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • General Business Overview

      • View All General Business

  • Science & Tech
      • Consumer Technology

      • All Consumer Technology
      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • Consumer Technology Overview

      • View All Consumer Technology

      • Energy & Natural Resources

      • All Energy
      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • Energy & Natural Resources Overview

      • View All Energy & Natural Resources

      • Environ­ment

      • All Environ­ment
      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • Environ­ment Overview

      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • All Heavy Industry & Manufacturing
      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • Heavy Industry & Manufacturing Overview

      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • All Telecomm­unications
      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • Telecomm­unications Overview

      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • All Consumer Products & Retail
      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • Consumer Products & Retail Overview

      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Health

      • All Health
      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • Health Overview

      • View All Health

      • Sports

      • All Sports
      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • Sports Overview

      • View All Sports

      • Travel

      • All Travel
      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • Travel Overview

      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • All Policy & Public Interest
      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • Policy & Public Interest Overview

      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • All People & Culture
      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • People & Culture Overview

      • View All People & Culture

      • In-Language News

      • Arabic
      • español
      • português
      • Česko
      • Danmark
      • Deutschland
      • España
      • France
      • Italia
      • Nederland
      • Norge
      • Polska
      • Portugal
      • Россия
      • Slovensko
      • Suomi
      • Sverige
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • Sponsored Placement
  • All Products
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • PR Newswire: news distribution, targeting and monitoring
  • Send a Release
    • ALL CONTACT INFO
    • Contact Us

      888-776-0942
      from 8 AM - 10 PM ET

  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
    • Trending Topics
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • All Products
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR

Vacant Zombie Properties Dip Further In Fourth Quarter But Possible Increase Looms

Zombie Foreclosures Comprise Only One of Every 13,300 Residential Properties in U.S.; Number of Zombie Properties Slips 1 Percent Across Nation in Fourth Quarter of 2021; Counts Likely to Rise Following Recent End of National Foreclosure Moratorium

Powering Innovation with Property Data (PRNewsfoto/ATTOM Data Solutions)

News provided by

ATTOM

Oct 28, 2021, 00:01 ET

Share this article

Share this article


IRVINE, Calif., Oct. 28, 2021 /PRNewswire/ -- ATTOM, curator of the nation's premier property database, today released its fourth-quarter 2021 Vacant Property and Zombie Foreclosure Report, showing that 1.3 million (1,312,410) residential properties in the United States sit vacant. That represents 1.3 percent, or one in 75 homes, across the nation.

Continue Reading
Vacant Zombie Properties Dip Further in Fourth Quarter But Possible Increase Looms
Vacant Zombie Properties Dip Further in Fourth Quarter But Possible Increase Looms

The report analyzes publicly recorded real estate data collected by ATTOM — including foreclosure status, equity, and owner-occupancy status — matched against monthly updated vacancy data. (See full methodology enclosed below). Vacancy data is available for U.S. residential properties at https://www.attomdata.com/solutions/marketing-lists/.

The report also reveals that 223,256 residential properties in the U.S. are in the process of foreclosure in the fourth quarter of this year, up 3.6 percent from the third quarter of 2021 and up 11.6 percent from the fourth quarter of 2020. Among those pre-foreclosure properties, 7,432 sit vacant in the fourth quarter of 2021, down quarterly by 1.4 percent and annually by 2.4 percent.

Click here for special Zombie Housing Market Infographic

The portion of pre-foreclosure properties that have been abandoned into zombie status dropped slightly from 3.5 percent in the third quarter of 2021 to 3.3 percent in the fourth quarter.

Among the nation's total stock of 98.8 million residential properties, the portion represented by zombie foreclosures remains miniscule. Just one of every 13,292 homes in the fourth quarter are vacant and in foreclosure, down from one in 13,060 in the third quarter of 2021 and one in 13,074 in the fourth quarter of last year.

The fourth-quarter zombie foreclosure numbers - for the moment – remain one of many measures showing that the decade-long U.S. housing market boom continues marching ahead despite the ongoing economic threat of the Coronavirus pandemic that hit early last year. Home prices in much of the country have soared more than 10 percent over the past year, seller profits commonly exceed 40 percent, and most neighborhoods literally have no empty, blight-inducing homes at some stage in the foreclosure process.

However, the foreclosure scenario stands at a precipice, with zombie counts likely to increase over the coming year. That's because lenders can resume taking back properties from homeowners who fell far behind on loan payments during the pandemic, following the recent end of a 15-month foreclosure moratorium that affected most mortgage payers. How much and how fast that happens will depend on how many delinquent homeowners can work out repayment plans. Employment is rising as the U.S. economy gradually recovers from the pandemic's effects. But an estimated 1.5 million to 2 million homeowners were in some kind of forbearance when the moratorium ended July 31, and foreclosure cases are already growing.

"Zombie foreclosures are in a holding pattern this quarter - at least for now," said Todd Teta, chief product officer with ATTOM. "They're still totally off the radar screen in most parts of the country, with none in most neighborhoods. But that's probably going to change soon because lenders can now return to court and take back properties from owners who can't keep up on their mortgage payments. Foreclosure activity already is on the upswing. So, depending on how fast cases wind through the courts, it's probably just a matter of time before zombie properties begin creeping back into the mix. As always, we will be on top of this trend."

Zombie foreclosures inch down, declining in half of U.S. states
A total of 7,432 residential properties facing possible foreclosure have been vacated by their owners nationwide in the fourth quarter of 2021, down from 7,538 in the third quarter of 2021 and from 7,612 in the fourth quarter of 2020. The number has decreased, quarter over quarter as well as year over year, in 25 states.

"Market dynamics - strong demand coupled with historically low inventory of homes for sale - suggest that we shouldn't see a significant increase in zombie foreclosure properties anytime soon, even with foreclosure activity increasing," said Rick Sharga, executive vice president at RealtyTrac, an ATTOM company. "Most financially-distressed homeowners should be able to sell their home rather than go through a lengthy foreclosure process where they'd ultimately abandon the property."

Among states with at least 50 zombie foreclosures during the fourth quarter of 2021, the biggest decreases from the third quarter to the fourth quarter are in Georgia (zombie foreclosures down 29 percent, from 91 to 65), Kentucky (down 10 percent, from 58 to 52), Oklahoma (down 9 percent, from 114 to 104), Connecticut (down 6 percent from 66 to 62) and Illinois (down 6 percent, from 805 to 758).

Largest zombie property counts remain in Northeast and Midwest
Six of the seven states with the most zombie foreclosures are in the Northeast and Midwest. New York continues to have the highest number of zombie properties in the U.S. (2,049 in the fourth quarter of 2021), followed by Ohio (925), Florida (907), Illinois (758) and Pennsylvania (356).

Overall vacancy rates down over past year in all 50 states
Vacancy rates for all residential properties in the U.S. declined to 1.33 percent in the fourth quarter of 2021 (one in 75 properties), from 1.35 percent in the third quarter of 2021 (one in 74) and 1.56 percent in the fourth quarter of last year (one in 64).

Overall vacancy rates decreased in all 50 states from the fourth quarter of 2020 to the fourth quarter of 2021. States with the biggest annual drops are Rhode Island (down from 1.8 percent of all homes in the fourth quarter of 2020 to 0.9 percent in the fourth quarter of this year), Oregon (down from 2 percent to 1.1 percent), Mississippi (down from 2.7 percent to 1.8 percent), Kentucky (down from 1.8 percent to 1.1 percent) and Maryland (down from 1.6 percent to 1.1 percent).

Other high-level findings from the fourth-quarter-2021 data:

  • Among 163 metropolitan statistical areas in the U.S. with at least 100,000 residential properties, the highest zombie rates in the fourth quarter of 2021 in areas with at least 100 properties facing possible foreclosure are in Portland, OR (15.3 percent of properties in the foreclosure process are vacant); Wichita KS (15 percent); Cleveland, OH (11.7 percent); Fort Wayne, IN (11 percent) and Honolulu, HI (10.6 percent).
  • Aside from Portland and Cleveland, the highest zombie-foreclosure rates in major metro areas with at least 500,000 residential properties and at least 100 properties facing foreclosure in the fourth quarter of 2021 are in Indianapolis, IN (9.3 percent of homes in the foreclosure process are vacant); Detroit, MI (8.8 percent) and Baltimore, MD (7.3 percent).
  • Among the 27.1 million investor-owned homes throughout the U.S. in the fourth quarter of 2021, about 920,100, or 3.4 percent, are vacant. The highest levels of vacant investor-owned homes are in Indiana (6.8 percent), Tennessee (6 percent), Kansas (5.8 percent), Oklahoma (5.4 percent) and Ohio (5.1 percent).
  • The highest zombie-foreclosure rates among counties with at least 500 properties in the foreclosure process during the fourth quarter of 2021 are in Cuyahoga County (Cleveland), OH (13.5 percent of pre-foreclosure homes are empty); Broome County (Binghamton), NY (12.5 percent); Onondaga County (Syracuse), NY (10.4 percent); Pinellas County (Clearwater), FL (9.8 percent) and St. Clair County, IL (outside St. Louis, MO) (7.7 percent).
  • The lowest zombie rates among counties with at least 500 properties in foreclosure in the fourth quarter of 2021 are in Atlantic County (Atlantic City), NJ (0.3 percent of pre-foreclosure homes are empty); Mercer County (Trenton), NJ (0.5 percent); Alameda County (Oakland), CA (0.7 percent); Bergen County, NJ (outside New York City) (0.7 percent) and Morris County, NJ (outside New York City) (0.7 percent).
  • Among 421 counties with at least 50,000 residential properties, those with the largest portion of total homes in zombie foreclosure status in the fourth quarter of 2021 are Broome County (Binghamton), NY (one of every 640 properties); Cuyahoga County (Cleveland), OH (one in 846); Suffolk County (eastern Long Island), NY (one in 1,238); Peoria County, IL (one in 1,288) and Albany County, NY (one in 1,390).

Report Methodology
ATTOM analyzed county tax assessor data for about 99 million residential properties for vacancy, broken down by foreclosure status and, owner-occupancy status. Only metropolitan statistical areas with at least 100,000 residential properties and counties with at least 50,000 residential properties were included in the analysis. Vacancy data is available at https://www.attomdata.com/solutions/marketing-lists/.

About ATTOM
ATTOM provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 20TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, and more. Also, introducing our latest solution, that offers immediate access and streamlines data management – ATTOM Cloud.

Media Contact:
Christine Stricker
949.748.8428
[email protected] 

Data and Report Licensing:
949.502.8313
[email protected]

SOURCE ATTOM

Related Links

https://www.attomdata.com/

Modal title

Also from this source

HOME EQUITY FLATTENS OUT ACROSS U.S. IN FOURTH QUARTER OF 2022

HOME EQUITY FLATTENS OUT ACROSS U.S. IN FOURTH QUARTER OF 2022


RENTING MORE AFFORDABLE THAN HOMEOWNERSHIP ACROSS MOST OF THE NATION IN 2023

RENTING MORE AFFORDABLE THAN HOMEOWNERSHIP ACROSS MOST OF THE NATION IN 2023

Explore

More news releases in similar topics

  • Computer & Electronics
  • Data Analytics
  • Residential Real Estate
  • Real Estate
  • Surveys, Polls and Research

Contact Cision

  • Cision Distribution 888-776-0942
    from 8 AM - 9 PM ET

  • Chat with an Expert
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices

Products

  • Cision Communication Cloud®
  • For Marketers
  • For Public Relations
  • For IR & Compliance
  • For Agency
  • For Small Business
  • All Products

About

  • About PR Newswire
  • About Cision
  • Become a Publishing Partner
  • Become a Channel Partner
  • Careers
  • COVID-19 Resources
  • Accessibility Statement
  • Asia
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Israel
  • Italy
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United Kingdom

My Services

  • All New Releases
  • Online Member Center
  • ProfNet

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2023 Cision US Inc.