U.S. Residential Vacancies Decrease 9 Percent in Q3 2016 But Bank-Owned Vacancies Up 67 Percent From a Year Ago
Vacant Homes in Foreclosure (Zombies) Down 9 Percent From Year Ago;
Increase in Vacant Bank-Owned (REO) Homes Corresponds to Overall REO Increase
ATTOM Data Solutions, the nation’s leading source for comprehensive housing data and the new parent company of RealtyTrac, released its Q3 2016 U.S. Residential Property Vacancy and Zombie Foreclosure Report, which shows nearly 1.4 million (1,361,188) U.S. residential properties (1 to 4 units) representing 1.6 percent of all residential properties were vacant as of the end of the third quarter. The number of vacant properties decreased 3 percent from the previous quarter and was down 9 percent from a year ago.
The report analyzes publicly recorded real estate data collected by ATTOM Data Solutions — including foreclosure status, equity, and owner-occupancy status — matched against monthly updated vacancy data from the U.S. Postal Service. Vacancy data is available at the address level for more than 85 million U.S. residential properties at http://marketinglists.realtytrac.com/.
The report shows that as of the end of the third quarter, 18,304 U.S. residential properties actively in the foreclosure process were vacant (zombie foreclosures), representing 4.7 percent of all residential properties in foreclosure. The number of zombie foreclosures decreased 5 percent from the previous quarter and decreased 9 percent from Q3 2015.
Meanwhile there were 46,604 vacant bank-owned (REO) residential properties as of the end of the third quarter, an increase of 7 percent from the previous quarter and up 67 percent from Q3 2015.