96
The Big Finish
Wrap your head
around the market's
leading indicators.
Hawaii
Alaska
ZOMBIE HOMES HOLD
STEADY DURING
FORECLOSURE MORATORIA
Zombie foreclosures make up 3% of all properties currently in foreclosure across the nation as of the second quarter, which is little changed from
Q1, according to the latest data from ATTOM Data Solutions. at means 3% of all homes in foreclosure are vacant.
In raw numbers, that's 7,650 zombie homes, out of 258,000 homes in foreclosure. In terms of total housing across the nation, that's one in every
13,000 of the nation's total 99.2 million homes.
e zombie foreclosure rate is down just 0.1 percentage point from the first quarter of the year, which is unsurprising as 70% of home loan
borrowers are currently protected by a foreclosure moratorium enacted in March and lasting until at least the end of June.
"We are in a holding pattern across the country as long as the moratorium continues," said Todd Teta, Chief Product Officer at ATTOM.
When the moratorium is lifted, "that's the point when we will see if foreclosure activity will remain at very low levels or rise," Teta said.
New York has the highest total number of zombie properties with 2,158. However, the state overall does not make it into the top five states in
terms of the percentage of zombie properties compared to total properties in foreclosure.
Here are the states and metro areas with the highest rates of zombie homes.
Highest Zombie Home Rates by Metro Area
State
Non-Current Percentage
Peoria, Illinois 12.9%
Cleveland 11%
Syracuse, New York 8.9%
St. Louis 7.8%
Honolulu 7.8%
Highest Zombie Home Rates by State
State
Non-Current Percentage
Ohio 6.7%
New Mexico 5.5%
Indiana 4.8%
Illinois 4.7%
Iowa 4.5%
