No one is living in 3.8 million homes

Screen Shot 2015-08-11 at 8.25.45 AMDaily Real Estate News

At a time when for-sale inventories remain constrained, a growing number of vacant homes are being held off the market nationwide. The bulk of these 3.8 million vacant homes are bank-owned properties or homes that are in badly need of repair. Some of these abandoned homes, known as “zombie foreclosures,” were abandoned by their owners before the foreclosure process was finished. RealtyTrac reports that in the second quarter there were about 127,021 “zombie foreclosures,” which numbered at 24 percent of all active foreclosures.

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