ATTOM: Total Number of Zombie Foreclosures Drops in First Quarter 2021

ATTOM: Total Number of Zombie Foreclosures Drops in First Quarter 2021

Industry Update
February 25, 2021

Source: ATTOM Data Solutions

Number of Zombie Foreclosures Drops Another 12 percent in First Quarter of 2021; Percentage of Foreclosure Properties Sitting Empty Stays the Same; Zombie Foreclosures Now Represent Just One of Every 14,800 Residential Properties in U.S.

IRVINE, Calif. – Feb. 25, 2021 — ATTOM Data Solutions, curator of the nation’s premier property database, today released its first-quarter 2021 Vacant Property and Zombie Foreclosure Report showing that 1.4 million (1,449,253) residential properties in the United States are vacant, representing 1.5 percent of all homes.

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 U.S. residential properties at https://www.attomdata.com/solutions/marketing-lists/.

The report reveals that just 175,414 properties are in the process of foreclosure in the first quarter of this year, down 12.3 percent from the fourth quarter of 2020 and 38 percent from the first quarter of 2020. The number of pre-foreclosure homes sitting empty (6,677 in the first quarter of 2021) is also down 12.3 percent, measured quarterly, while it has decreased 23.1 percent, measured annually.

The portion of pre-foreclosure properties that have been abandoned into zombie status remained at 3.8 percent in the first quarter of 2021, compared to the prior quarter.

Among the nation’s total stock of nearly 99 million residential properties, zombie properties continue to represent just a miniscule portion – only one of every 14,825 homes in the first quarter of 2021. That figure is down from one in 13,074 in the fourth quarter of 2020 and one in 11,405 in the first quarter of last year.

For full report, please click the source link above.