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Vacant "Zombie" Foreclosures Increase To 3.1 Percent Nationwide


IRVINE, Calif., Feb. 27, 2020 /PRNewswire/ -- ATTOM Data Solutions, curator of the nation's premier property database and first property data provider of Data-as-a-Service (DaaS), today released its Q1 2020 Vacant Property and Zombie Foreclosure Report showing that over 1.52 million U.S. single-family homes and condos are vacant, representing 1.5 percent of all homes.

ATTOM Data Solutions (PRNewsfoto/ATTOM Data Solutions)

The report analyzes publicly recorded real estate data collected by ATTOM Data Solutions ? including foreclosure status, equity, and owner-occupancy status ? matched against monthly updated vacancy data. (See full methodology enclosed below.) Vacancy data is available for more than 85 million U.S. residential properties at https://www.attomdata.com/solutions/marketing-lists/.

According to the report, about 282,800 homes are in the process of foreclosure, with about 8,700, or 3.1 percent sitting empty as "zombie" foreclosures. The percentage is up from 3 percent in the fourth quarter of 2019, but still significantly less than 5.8 percent in the first quarter of 2014.

The total number of properties in the process of foreclosure in the first quarter of 2020 is down 1.9 percent from the fourth quarter of 2019, while the number vacant foreclosures is up 1.7 percent, meaning that the level of zombie properties rose while the count of foreclosures dipped. Since 2016, the number facing possible foreclosure is down 27 percent, while the tally of unoccupied properties in the foreclosure pipeline has declined 53 percent.

"Homes abandoned by owners facing a possible foreclosure remain little more than a blip on the radar across the country, as one of the main scourges of the Great Recession continues to show little or no signs of re-emerging," said Todd Teta, chief product officer with ATTOM Data Solutions. "Even with the slight increase in these so-called 'zombie foreclosures,' so far this year, there are still pockets of distress with elevated numbers of abandoned homes. But in yet another reflection of how the national housing market is still booming, you can drive through many towns and not pass a single such property."

High-level findings from the report:

Heatmap: Vacant Property Rate By Zip

Report Methodology
ATTOM Data Solutions analyzed county tax assessor data for more than 98 million single-family homes and condos for vacancy, broken down by foreclosure status and, owner-occupancy status. Only metropolitan statistical areas with at least 100,000 single-family homes and condos and counties with at least 50,000 single-family homes and condos were included in the analysis. Vacancy data is available at https://www.attomdata.com/solutions/marketing-lists/.

About ATTOM Data Solutions
ATTOM Data Solutions 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 data collected by ATTOM, assigning each property record with a persistent, unique ID ? the ATTOM ID. The 9TB 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 APIsreal estate market trends, marketing lists, match & append and introducing the first property data delivery solution, a cloud-based data platform that streamlines data management ? Data-as-a-Service (DaaS).

Media Contact:
Christine Stricker
949.748.8428
christine.stricker@attomdata.com 

Data and Report Licensing:
949.502.8313
datareports@attomdata.com

SOURCE ATTOM Data Solutions


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