Vacant Property Rate Increases in Much of the U.S.

Vacant property rates increased from a year ago in 81 of the 149 metropolitan statistical areas analyzed in a report by property database curator Attom Data Solutions.

The company’s 2017 U.S. Residential Vacant Property and Zombie Foreclosure Report shows nearly 1.4 million (1,367,793) U.S. residential properties (1 to 4 units) were vacant as of the end of the third quarter of 2017 — representing 1.58 percent of all U.S. residential properties.

The 1.58 percent vacant property rate nationwide decreased slightly from 1.63 percent a year ago, but vacant property rates increased in markets including Chicago, New York, St. Louis, Baltimore and Phoenix.

This report shows that the number of vacant “zombie” pre-foreclosure properties — which have started the foreclosure process but have not yet been repossessed by the foreclosing lender — decreased 22 percent from a year ago to 14,312 as of the end of Q3 2017, a new low.

Also, the number of vacant bank-owned properties decreased 48 percent from a year ago to 24,026 as of the end of Q3 2017.

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