RealtyTrac: Zombie foreclosures increase in half of U.S. metros

Top 10 zombie foreclosure rates in major markets

While homeowner-vacated zombie foreclosures are improving across the country, they still remain, and are getting worse, in some top-foreclosure states like New Jersey and New York.

According to RealtyTrac’s latest zombie foreclosure report, homeowner-vacated zombie foreclosures nationwide are down 10% from a year ago to 127,021 as of the end of the second quarter. This is down 11% from the previous quarter and down 10% from second quarter 2014.

Zombie foreclosures represented about one in five of the 527,047 U.S. properties in foreclosure. Also, one in every 1,040 U.S. housing units is an owner-vacated zombie foreclosure.

Here comes the not-so-positive half. Zombie foreclosure are still up from a year ago in half of U.S. metros, increasing in 91 of the 183 metropolitan statistical areas analyzed in the report.

Top markets where zombie foreclosures increased from a year ago include: New York (up 38%), Los Angeles (up 39%), Houston (up 38%), Philadelphia (up 19%) and Boston (up 14%).

On the other side, major markets where the number of zombies decreased from a year ago included Chicago (down 28%), Dallas (down 27%), Miami (down 46%), Atlanta (down 33%), and Phoenix (down 14%).

For a more visually appealing view of the data, check out the infographic below.

Click to enlarge


Source: RealtyTrac

Most Popular Articles

FHA, VA join Fannie, Freddie in relaxing some standards

With the coronavirus continuing to reshape the face of the country and the economy, the biggest players in the mortgage business are moving to try to make it easier to lend. Last week, it was Fannie and Freddie. Now, it’s the FHA and VA’s turn.

Mar 30, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please