Over 1.3 million (1,332,706) residential properties in the United States sit vacant, according to the third-quarter 2021 Vacant Property and Zombie Foreclosure Report from ATTOM.
That number represents 1.4%, or one in 74 homes, across the nation. The portion of pre-foreclosure properties that have been abandoned into zombie status dropped slightly, from 3.6% in the second quarter of 2021 to 3.5% in the third quarter of 2021.
The report also reveals that 215,495 properties are in the process of foreclosure in the third quarter of this year, down 3.7% from the second quarter of 2021 and down 0.2% from the third quarter of 2020.
“Vacant properties in foreclosure, and the resulting potential for neighborhood decay, continue to be a non-issue overall in most of the country. But that could easily change over the coming months as lenders are now free to take back properties from delinquent homeowners,” said Todd Teta, chief product officer with ATTOM. “How much, how fast and where that happens will depend on how different banks approach the situation.”
A total of 7,538 residential properties facing possible foreclosure have been vacated by their owners nationwide in the third quarter of 2021, down from 8,078 in the second quarter of 2021 and from 7,961 in the third quarter of 2020. The number decreased, quarter over quarter as well as year over year, in 31 states.
Among the nation’s total stock of 98.4 million residential properties, the portion represented by zombie foreclosures remains miniscule.
Just one of every 13,060 homes in the third quarter sits empty in the foreclosure process, down from one in 12,256 in the second quarter of 2021 and from one in 12,486 in the third quarter of last year.