Three of four vacant residential properties in U.S. are investment homes

Zombie home

World Property Journal

According to ATTOM Data Solutions 2017 U.S. Residential Vacant Property and Zombie Foreclosure Report, nearly 1.4 million (1,367,793) U.S. residential properties (1 to 4 units) were vacant as of the end of the third quarter of 2017 — representing 1.58 percent of all U.S. residential properties.

The 1.58 percent vacant property rate nationwide decreased slightly from 1.63 percent a year ago, but vacant property rates increased from a year ago in 81 of the 149 metropolitan statistical areas analyzed in the report (54 percent), including Chicago, New York, St. Louis, Baltimore and Phoenix.

The report also shows that the number of vacant “zombie” pre-foreclosure properties — which have started the foreclosure process but have not yet been repossessed by the foreclosing lender — decreased 22 percent from a year ago to 14,312 as of the end of Q3 2017, 67 percent below the peak of 44,030 in Q3 2013. The number of vacant bank-owned properties decreased 48 percent from a year ago to 24,026 as of the end of Q3 2017.

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Related: Attom Data Solutions report

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