United States zombie foreclosures decline to 3 percent

The national share of zombie foreclosures, which are properties left vacant by homeowners before the foreclosure process is completed, has declined to approximately 3 percent of all homes in the foreclosure pipeline. This is a decrease from 3.3 percent recorded in the previous quarter and a year earlier, according to data from real estate firm ATTOM.

Despite the national decline, the issue remains a significant concern in specific regions. Approximately 8,040 properties nationwide are currently in zombie status. In certain metropolitan areas, such as Youngstown, Ohio, and Baltimore, Maryland, the rate of zombie foreclosures among properties in the foreclosure process reached 13 percent.

While the national percentage fell, zombie property counts increased in 29 states. Significant percentage increases were noted in Wisconsin, Maryland, Pennsylvania, and Texas. Additionally, the overall residential vacancy rate in the United States fell slightly to 1.2 percent in the fourth quarter, down from 1.3 percent.