According to ATTOM's newly issued Q2 2023 unoccupied Property and Zombie Foreclosure Report, 1.3 million residential properties in the United States are unoccupied, accounting for 1.3 percent, or one in every 79 residences.
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In addition, ATTOM's most recent examination of unoccupied properties found that 311,508 homes were in some stage of the foreclosure process as of the second quarter of 2023, an increase of 4.3% from the first quarter of 2023 and 20% from the second quarter of 2022. According to the data, there are 8,752 unoccupied pre-foreclosure properties (zombie foreclosures) now on the market. This is a 15.6% increase from the previous quarter and a 7.5% increase from the first quarter of 2023. According to the research, the number of "zombie properties" has increased every quarter since the beginning of 2022.
There has been quarterly growth in the number of zombie properties in 29 states and annual growth in 36 states, as reported by ATTOM's unoccupied property and zombie foreclosure report for Q2 2023. Zombies properties increased by 47 percent from Q1 to Q2 2023 in Texas (from 114 to 168), 26 percent from 846 to 1,070 in Ohio, 22 percent from 142 to 173 in Oklahoma, 22 percent from 78 to 95 in Georgia, and 21 percent from 227 to 274 in Iowa, according to the report. Most neighborhoods in the United States have few or no zombie foreclosures.
Among the states with at least 50 zombie foreclosures, only Michigan (down 20% from 74 to 59), South Carolina (down 2% from 154 to 151), Pennsylvania (down 1% from 404 to 401), and New York (down less than 1% from 2,006 to 2,000) saw decreases in the most recent quarter.
The majority of the 50 zip codes with the highest percentage of overall homes in zombie status are located in New York, Ohio, and Illinois, with seven located in Cleveland, Ohio, according to ATTOM's most recent data. The report found that the highest ratios were in the following areas: 10993 in Rockland County (West Haverstraw, NY), 44112 in Cleveland, OH, 13754 in Broome County (Deposit, NY), 239 in the zip code of 13754, 44108 in Cleveland, OH, 255 in the zip code of 10754, and 259 in the zip code of 7355 in Greer County (Mangum, OK).
To identify the top 10 U.S. zip codes with the greatest zombie foreclosure rates in zips with 10 or more pre-foreclosure properties, we delve into the data underlying ATTOM's Q2 2023 Vacant Property and Zombie Foreclosure Report. For example, in the 92210 area code in Indian Wells, California, 62.5% of all pre-foreclosure properties are empty; in the 73554 area code in Mangum, Oklahoma, 50% are; in the 46208 area code in Indianapolis, 46.4% are; in the 66604 area code in Topeka, Kansas, 45.5% are; in the 13754 area code in Deposit, New York, 42.9% are; in the 30315 area code in Atlanta, 41.
