Summary
A report from ATTOM found that about 3.3% of homes in foreclosure in the U.S. are abandoned, called "zombie" foreclosures. While these numbers remain low, some states like Maryland and South Dakota have higher rates of these properties. The report highlights how economic pressures and falling home values contribute to the problem.
Key Facts
- In the first quarter, 3.3% of homes in foreclosure in the U.S. were abandoned.
- "Zombie" properties have decreased in 28 states and Washington, D.C.
- Maryland saw the highest quarterly increase in zombie properties, rising by 46%.
- South Dakota had the highest percentage of zombie properties compared to total foreclosures at 18%.
- The decrease in zombie properties is linked to low vacancy rates which help keep home prices up.
- Economic issues in rural areas of states like South Dakota contribute to high zombie foreclosure rates.
- States like West Virginia and Vermont had no zombie foreclosures in the period studied.
