DS News - Bank of America

86 86 INVESTMENT GOVERNMENT PROPERTY PRESERVATION TECH ZOMBIE PROPERTY TOTALS DOWN IN Q4 Property data provider ATTOM Data Solutions reported that about 1.6 million residential properties, or 1.6% of all U.S. homes, are vacant. at is according to the Q4 2020 Vacant Property and Zombie Foreclosure Report, which offers a snapshot of the market in the fourth quarter. e report analyzes foreclosure status, equity, and owner-occupancy status matched against monthly updated vacancy data. According to the report, 200,065 properties are in the process of foreclosure in Q4, down 7.3% from Q3, while the number of empty properties, 7,612, is down 4.4%. "e portion of pre-foreclosure properties that have been abandoned into zombie status has ticked up slightly, from 3.7% in the third quarter of 2020 to 3.8% this quarter," the researchers reported. "Among the nation's stock of 99.5 million residential properties, zombie properties continue to represent just a tiny fraction—only one of every 13,100 homes." Researchers saw a Q4 drop in the number of properties at some point in the foreclosure process. e number of "zombies" remains steady "during a time when the federal government continues trying to shield the housing market from an economic slide stemming from the worldwide coronavirus pandemic," they said. "A key measure remains a temporary prohibition against lenders foreclosing on government-backed mortgages," according to the report. e ban, which affects about 70% of U.S. home loans, was enacted under the CARES Act in March and then extended. "Zombie foreclosures have been barely an issue around most of the country for over a year, and they're even less of one now. A surprisingly strong housing market and a temporary ban on foreclosures continue to leave most neighborhoods without a single such property," said Todd Teta, Chief Product Officer with ATTOM Data Solutions. "All that could change in a flash when foreclosures are allowed to resume or if the coronavirus takes a toll on the market. But for now, things are steady as they go, with the overall numbers down and the rates of zombie properties pretty much unchanged." Journal

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