According to ATTOM’s newly released Q1 2023 Vacant Property and Zombie Foreclosure Report, 1,284,048 residential properties in the U.S. sit vacant, representing 1.3 percent, or one in 79 homes, across the nation.
ATTOM’s latest vacant properties analysis also revealed that 298,533 residential properties in the U.S. are in the process of foreclosure in Q1 2023. That figure is up 5 percent from Q4 2022 and 29.9 percent from Q1 2022. The report noted that among those pre-foreclosure properties, 8,141 are zombie foreclosures, or pre-foreclosure properties abandoned by owners. That figure is up 5.4 percent Q4 2022 and 10.6 percent from Q1 2022 – marking increases in each of the last four quarters.
The Q1 2023 analysis also reported that while zombie foreclosures remain a rarity in most neighborhoods around the U.S., the biggest increases from Q4 2022 to Q1 2023 in states with at least 50 zombie properties, are in Iowa (zombie properties up 42 percent, from 160 to 227), Arizona (up 25 percent, from 40 to 50), Oklahoma (up 20 percent, from 118 to 142), Maryland (up 20 percent, from 150 to 180) and Massachusetts (up 17 percent, from 63 to 74).
Also according to the report, the biggest quarterly decreases among states with at least 50 zombie foreclosures are in Maine (zombie properties down 10 percent, from 67 to 60), Nevada (down 10 percent, from 101 to 91), Georgia (down 6 percent, from 83 to 78), Connecticut (down 3 percent, from 75 to 73) and Michigan (down 3 percent, from 76 to 74).
In this post, we take a deep dive into the data behind ATTOM’s Q1 2023 Vacant Property and Zombie Foreclosure Report, we unveil the top 10 states with the greatest number of zombie foreclosures in Q1 2023. Those states include: New York (2,006 zombies); Florida (1,096 zombies); Ohio (846 zombies); Illinois (790 zombies); Pennsylvania (404 zombies); Indiana (317 zombies); California (250 zombies); Iowa (227 zombies); New Jersey (210 zombies); and Maryland (180 zombies).
Diving even deeper into the data behind ATTOM’s latest report, we unveil even more granular data by noting the top 10 U.S. metro areas with the greatest number of zombie foreclosures in Q1 2023. Those metros include: New York-Newark-Jersey City, NY-NJ-PA (1,202 zombies); Miami-Fort Lauderdale-West Palm Beach, FL (455 zombies); Chicago-Naperville-Elgin, IL-IN-WI (433 zombies); Cleveland-Elyria, OH (347 zombies); Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (256 zombies); Pittsburgh, PA (155 zombies); Tampa-St. Petersburg-Clearwater, FL (151 zombies); Albany-Schenectady-Troy, NY (139 zombies); St. Louis, MO-IL (127 zombies); and Baltimore-Columbia-Towson, MD (121 zombies).
ATTOM’s vacancy report analyzes publicly recorded real estate data collected by ATTOM — including foreclosure status, equity and owner-occupancy status — matched against monthly updated vacancy data. (See full methodology below).
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