The Q3 2016 U.S. Residential Property Vacancy and Zombie Foreclosure Report, produced by ATTOM Data Solutions, shows 1,361,188 U.S. residential properties were vacant at the end of the third quarter. RealtyTrac takes a look at the number of vacancies, which decreased 3% from 2Q 2016 and 9% from 3Q 2016.
The report also examined zombie foreclosures (U.S. residential properties actively in the foreclosure process were vacant) of which there were 18,304 in 3Q 2016 - a 5% decrease from the previous quarter:
“A strong seller’s market along with political pressure has likely motivated lenders to complete the foreclosure process over the past year on many vacant properties that were lingering in foreclosure limbo for years,” said Daren Blomquist, senior vice president at ATTOM Data Solutions.