Zombie seizures increase 21% nationwide in Q2 2021


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IRVINE, California, May 27, 2021 / PRNewswire / – ATTOM data solutions, curator of the nation’s leading real estate database, today released its report on vacant properties and zombie foreclosure for the second quarter of 2021, showing that 1.4 million (1,409,457) residential properties in United States are vacant this quarter, representing 1.4 percent of all dwellings.

The report analyzes publicly recorded real estate data collected by ATTOM Data Solutions – including foreclosure status, equity, and owner occupancy status – against monthly updated vacancy data. (See the full methodology below). Vacancy data is available for residential properties in the United States at: https://www.attomdata.com/solutions/marketing-lists/.

The report reveals that 223,671 properties are under foreclosure in the second quarter of this year, up 27.5% from the first quarter of 2021 but still down 13.3% from the second quarter of 2020. The Number of pre-foreclosed houses or Zombie empty houses (8,078 in the second quarter of 2021) increased both quarterly, by 21%, and annually, by 5.6%.

The share of pre-foreclosed properties that were abandoned to zombie status fell slightly from 3.8% in Q1 2021 to 3.6% in Q2 2021.

Among the country’s total stock of 99 million residential properties, the share of zombie properties remains tiny, but increased slightly in the second quarter of 2021. One in 12,256 homes in the second quarter is empty in the foreclosure process, compared with one in 14,825 in the first quarter of 2021 and up from one in 12,967 in the second quarter of last year.

The number of zombie foreclosures increased this quarter despite an ongoing federal moratorium on foreclosures aimed at helping homeowners overcome economic problems resulting from the global coronavirus pandemic. Affecting around 70% of mortgage loans in United States, the moratorium prohibits lenders from suing delinquent homeowners who have government-backed mortgages. It has been in place since last March and is currently in effect until the end of June. Some private lenders have also voluntarily offered mortgage extensions.

“The latest figures show a spike in zombie properties in the second quarter that stands out from recent times, especially given the moratorium. It may simply be because lenders have foreclosed on already abandoned homes. We are monitoring this. up close to see what it means and if it’s the start of a new trend, ”said Todd Teta, product manager at ATTOM Data Solutions. “But even with the increase, zombie foreclosures are still just a spot on the housing market’s radar screen, which is more testament to the strength of the housing market. You can still walk around in most areas. neighborhoods across the country and not finding a single empty one. house being taken over, and that remains great news for current owners, as well as potential owners. “

Zombie seizures on the rise in 33 states
A total of 8,078 residential properties facing potential foreclosure were vacated by owners across the country in the second quarter of 2021, compared to 6,677 in the first quarter of 2021 and 7,652 in the second quarter of last year. The number increased quarter over quarter in 33 states and the District of Colombia.

Among states with at least 100 zombie seizures in the second quarter of 2021, some of the biggest increases from the first quarter to the second quarter of this year include Maryland (from 44 to 151), Iowa (from 43 to 114), North Carolina (from 68 to 119), Caroline from the south (from 79 to 133) and Ohio (from 633 to 1033).

“We’ve seen this before – government officials trying to prevent unnecessary defaults delay foreclosure proceedings for so long that troubled borrowers simply give up the property before foreclosure takes place,” said Rick sharga, executive vice president of RealtyTrac, an ATTOM Data Solutions company. “There are probably two things behind the increase in zombie foreclosures: first, the fact that most foreclosures today start on vacant and abandoned properties; and second, there were also almost 250,000 loans in foreclosure before the pandemic, and they’ve been in limbo for over 14 months. It is highly likely that some of the borrowers from these properties have moved, but lenders have been prohibited from initiating foreclosure proceedings on these loans. “

The highest number of zombie properties again in the northeastern and midwestern states
new York continues to have the highest number of zombie properties in the second quarter of 2021 (2052), followed by Ohio (1,033), Florida (1,021), Illinois (897) and Pennsylvania (401).

Midwestern and Southern States Post Biggest Declines in Overall Vacancy Rates
Vacancy rates for all residential properties in the United States edged down to 1.42% in the second quarter of 2021, from 1.46% in the first quarter of 2021 and 1.52% in the second quarter of 2021. Last year.

The states with the largest quarterly declines in overall vacancy rates are Rhode Island (down from 1.3% of all dwellings in the first quarter of 2021 to 1% in the second quarter), Mississippi (down from 2.5% to 2.2%), Kentucky (down from 1.2% to 1.1%), Caroline from the south (down from 1.7% to 1.6%) and Kansas (down from 2.5% to 2.4%).

Other high-level findings from Q2 data:

  • Among 159 metropolitan statistical areas with at least 100,000 residential properties and at least 100 properties at risk of possible foreclosure, the highest zombie rates in the second quarter of 2021 are in Peoria, IL (14.2 percent of properties subject to foreclosure process are vacant); Wichita, KS (14.1 percent); South Bend, IN (12 percent); Youngstown, OH (11.6%) and Cleveland, OH (11.5 percent).
  • Apart Cleveland, the highest zombie foreclosure rates in major metropolitan areas with at least 500,000 residential properties and at least 100 properties threatened with foreclosure in the second quarter of 2021 are in Detroit, MI (10.4 percent of properties subject to foreclosure process are vacant); Atlanta, Georgia (9.7 percent); Portland, OR (9.6%) and Houston, TX (7.8 percent).
  • The lowest zombie foreclosure rates in metropolitan areas with at least 500,000 properties in the second quarter of 2021, regardless of how many homes are in foreclosure, are in San Francisco, California (0.8 percent of foreclosure properties); Charlotte, North Carolina (1.3 percent); Denver, CO (1.4 percent); San Diego, California (1.4 percent) and Sacramento, California (1.5 percent).
  • States with the highest levels of vacant investor-owned housing in the second quarter of 2021 are in Indiana (7.3 percent), Kansas (6.3 percent), Minnesota (5.8 percent), Ohio (5.7 percent) and Tennessee (5.6 percent).
  • The states with the highest overall vacancy rates in the second quarter of 2021 are Oklahoma (2.5 percent), Tennessee (2.4 percent), Kansas (2.4 percent), Indiana (2.2 percent) and Michigan (2.2 percent). The lowest rates are in Delaware (0.3 percent), New Hampshire (0.4 percent), Vermont (0.4 percent), Idaho (0.5 percent) and New Jersey (0.7 percent).
  • The highest zombie foreclosure rates among 421 counties with at least 50,000 residential properties and 500 foreclosed properties in the second quarter of 2021 are in Cuyahoga County (Cleveland), OH (13 percent); Broome County (Binghamton), NY (12.3 percent); City of Baltimore/ County, MD (12.3 percent); Pinellas County (Clear water), FL (11.3 percent) and Onondaga County (Syracuse), NY (10.1 percent).
  • The lowest zombie rates among counties with at least 500 foreclosed properties in the second quarter of 2021 include Mecklenburg County (Charlotte), NC (0.7 percent); Bergen County, NJ (outside New York City) (0.7 percent); Queens County, NY (0.9 percent); Mercer County (Trenton), NJ (0.9 percent) and Osceola County (Kissimmee), FL (1 percent).

Methodology of the report
ATTOM Data Solutions analyzed data from county tax assessors for 99 million single-family homes and vacancy condos, broken down by foreclosure status and owner-occupancy status. Only metropolitan statistical areas with at least 100,000 residential properties and counties with at least 50,000 residential properties were included in the analysis. Data on job vacancies are available at https://www.attomdata.com/solutions/marketing-lists/.

About ATTOM data solutions
ATTOM data solutions provides the bonus property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM’s multi-source property tax, deed, mortgage, foreclosure, environmental risk, natural hazard and neighborhood data for over 155 million residential and commercial properties in the United States covering 99 percent of the country’s population. A rigorous data management process involving more than 20 steps validates, standardizes and improves the data collected by ATTOM, assigning each property record a unique and persistent ID – the ATTOM ID. The 20TB ATTOM data warehouse fuels innovation across multiple industries including mortgage, real estate, insurance, marketing, government and more with flexible data delivery solutions that include bulk file licenses, Property Data API, real estate market trends, marketing lists, match and add and the introduction of the world’s first property data delivery solution, a cloud-based data platform that streamlines data management – Data as a Service (DaaS).

Media contact:
Christine stricker
949.748.8428
[email protected]

Data and Reporting License:
949.502.8313
[email protected]

SOURCE ATTOM data solutions

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