Zombie Foreclosures Decline in 2024, Minimizing Impact on Neighborhoods

According to ATTOM's latest report, the number of zombie foreclosures in 2024 has decreased significantly, posing minimal threat to most American neighborhoods. Currently, there are 6,945 zombie properties among 237,208 homes in the foreclosure process, marking a 5.4% drop from the previous quarter and a 20.6% annual decline. This reduction reflects the lowest level since 2021, driven by a resilient housing market and fewer abandoned properties, thus reducing concerns of neighborhood blight.

Key Points:

• Significant Decrease: The number of zombie foreclosures has decreased by 5.4% from the last quarter and 20.6% year-over-year.
• Current Numbers: There are 6,945 zombie foreclosures out of 237,208 total foreclosures.
• Market Resilience: The housing market's strength has contributed to this decline.
• Neighborhood Impact: The reduction in zombie properties means less risk of neighborhood deterioration.

For a detailed analysis, you can read the full article on RISMedia.

Oleg Lisitsyn | Broker Associate | Sarasota FL | MVP Realty | 941-441-5277

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