According to ATTOM’s newly released Q3 2023 Vacant Property and Zombie Foreclosure Report, 1.3 million (1,277,612) residential properties in the U.S. are vacant, representing 1.3 percent, or one in 79 homes, across the nation – the same as in the second quarter of this year.
ATTOM’s latest vacant properties analysis also reveals that 315,425 U.S. residential properties are in the process of foreclosure in Q3 2023, up 1.3 percent from Q2 2023 and up 16.6 percent from Q3 2022.
The report notes that among those pre-foreclosure properties, 8,782 sit vacant as zombie foreclosures (pre-foreclosure properties abandoned by owners) in Q3 2023. According to the report, that figure is up slightly from the prior quarter, by 0.3 percent, and up 13.9 percent from a year ago.
Also according to ATTOM’s Q3 2023 vacant property and zombie foreclosure report, the number of zombie properties has grown quarterly in 19 states and annually in 28. The biggest increases from Q2 to Q3 2023 in states with at least 50 zombie properties, are in: Missouri (zombie properties up 51 percent, from 35 to 53), Maryland (up 22 percent, from 188 to 229), Oklahoma (up 15 percent, from 173 to 199), Connecticut (up 13 percent, from 77 to 87) and Pennsylvania (up 11 percent, from 401 to 446).
The report also notes that the largest decreases among states with at least 50 zombie foreclosures are in Texas (zombie properties down 33 percent, from 168 to 112), Michigan (down 12 percent, from 59 to 52), Georgia (down 11 percent, from 95 to 85), Kentucky (down 9 percent, from 58 to 53) and Nevada (down 8 percent, from 108 to 99).
ATTOM’s latest report states that among 166 U.S. metro areas with at least 100,000 residential properties in Q3 2023, those with at least 100 properties facing possible foreclosure and the highest zombie foreclosure rates are in: Cedar Rapids, IA (12.5 percent of properties in the foreclosure process are vacant); Peoria, IL (10.8 percent); Indianapolis IN (8.9 percent); Fort Wayne, IN (8.8 percent) and Youngstown, OH (8.3 percent).
On a more granular level, the report notes that the highest zombie-foreclosure rates in U.S. counties with at least 500 properties in the foreclosure process in Q3 2023 are in: Peoria County, IL (12.3 percent zombie foreclosures); Baltimore County, MD (12.2 percent); Marion County (Indianapolis), IN (12.1 percent); Broome County (Binghamton), NY (11.7 percent) and Lake County, IN (outside Chicago, IL) (9.4 percent).
In this post, we take a deep dive into the data behind ATTOM’s Q3 2023 Vacant Property and Zombie Foreclosure Report, to uncover the top 10 U.S. zip codes with the highest zombie foreclosure rates in zips with 10 or more pre-foreclosure properties. Those zips include: 33931 – Fort Myers Beach, FL (85.7 percent); 92210 – Indian Wells, CA (76.9 percent); 62656 – Lincoln, IL (50 percent); 73554 – Mangum, OK (46.7 percent); 46808 – Fort Wayne, IN (42.1 percent); 48206 – Detroit, MI (41.7 percent); 67357 – Parsons, KS (41.7 percent); 46225 – Indianapolis, IN (40 percent); 46208 – Indianapolis, IN (39.5 percent); and 61605 – Peoria, IL (37.3 percent).
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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