
Vacant Properties in Pre-Foreclosure are rising!
There are currently 7,569 vacant properties nationwide in pre-foreclosure and 1.3 million (1,304,007) residential properties in the United States sit vacant not listed in the MLS!
That represents 1.3 percent, or one in every 76 homes, across our nation.
The largest concentration of vacant property increases in 2022 are in these six states:
- California (up 75%)
- Arizona (up 56%)
- Nevada (up 26%)
- Michigan (up 74%)
- Georgia (up 29%)
- Iowa (up 17%)
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CDLData.com released its second-quarter 2022 “Vacant Property Foreclosure
Report” also reveals that 259,166 residential properties in the U.S. are in the
process of foreclosure in the second quarter of this year, up 12.7 percent from
the first quarter of 2022 and up 15.9 percent from the second quarter of 2021.
This is also the third straight quarter that the count of pre-foreclosure
properties has gone up since a nationwide foreclosure moratorium, imposed early
during the Coronavirus pandemic, was lifted at the end of July 2021.
Among those pre-foreclosure properties, 7,569 sit vacant in the second quarter
of 2022, meaning that the number of “vacant-foreclosure properties” went up
quarterly by 2.8 percent.
The number of vacant-foreclosures does remain down 6.3 percent from a year ago
and continues to represent just a tiny segment of the nation’s total stock of
99.7 million residential properties.
Just one of every 13,171 homes in the second quarter of 2022 are vacant and in
foreclosure, meaning that most neighborhoods have none.
The portion of pre-foreclosure properties that have been abandoned into zombie
status also continues to decline, down from 3.6 percent a year ago to 3.2
percent in the first quarter of 2022 and 2.9 percent in the second quarter of
this year.
A total of 7,569 residential properties facing possible foreclosure have been
vacated by their owners nationwide in the second quarter of 2022, up slightly
from 7,363 in the first quarter of 2022 but still down from up from 8,078 in the
second quarter of 2021.
Amid numbers that remain extremely low, the biggest increases from the first
quarter of 2022 to the second quarter of 2022 in states with at least 50 vacant
foreclosures are in Michigan, (vacant properties up 74 percent, from 54 to 94),
Arizona (up 56 percent, from 32 to 50), Georgia (up 29 percent, from 62 to 80),
Nevada (up 26 percent, from 68 to 86) and Iowa (up 17 percent, from 132 to 155).
CDLData.com has the Data, Nationwide!!
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