U.S. 'zombie' foreclosure rate drops, but overall vacancy up

  • There has been a 30.1 percent year-over-year decline in "zombie" foreclosures -- or properties actively in the foreclosure process left vacant -- across the U.S.
  • However, overall vacancy rates increased 2.7 percent since last quarter.

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RealtyTrac released its Residential Property Vacancy and Zombie Foreclosure Report for Q2, outlining a 30.1 percent year-over-year decline in “zombie” foreclosures — or properties actively in the foreclosure process left vacant — across the U.S. “The properties that were ‘zombies’ last year are now bank-owned properties that the banks are putting up for sale this spring and summer,” said Daren Blomquist, senior vice president at RealtyTrac.