Coincidence? A Zombie Foreclosure Report in Late October

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Posted To: MND NewsWire

While they are talking apples and oranges, both the U.S. Census Bureau and ATTOM Data Solutions each took a recent look at residential vacancies . The Census Bureau’s quarterly report on Residential Vacancies and Homeownership noted a decline in the incidence of rental property vacancies and a stable situation among owned properties while ATTOM was concerned primarily with what they call “zombie” foreclosures, homes that fall vacant during the foreclosure process. The Census Bureau puts the vacancy rate for rental housing at 7.1 percent in the third quarter of this year, down from 7.5 percent last year, while the homeowner vacancy rate, at 1.6 percent was identical year-over-year. The report estimates a total of 138.6 million housing units nationwide, 121.354 million or 87.6 percent of which…(read more)

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