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There are more than 1.5m vacant homes in the US this year

According to ATTOM Data Solutions newly released Q3 2019 Vacant Property and Foreclosure Report, there are over 1.5m US single-family homes and condos vacant in the third quarter of 2019, representing 1.6% of all homes.

The report analysed publicly recorded real estate data collected by ATTOM Data Solutions - including foreclosure status, equity, and owner-occupancy status - matched against monthly updated vacancy data.

During the third quarter of 2019, over 304,000 homes were in the process of foreclosure. While the count of properties in the process of foreclosure is down by nearly 22% since ATTOM's last foreclosure vacancy report in the same period of 2016, the number that sits empty has dropped nearly in half.

“The blight of vacant, decaying properties facing foreclosure has declined dramatically across the United States - another good-news offshoot of the housing boom that's gone on for eight years,” said Todd Teta, chief product officer with ATTOM Data Solutions.

 

Teta added: “A handful of areas still face notable problems with homes abandoned by owners after they get hit with foreclosure claims. But with the economy improving and the housing market still hot, an expanding number of neighbourhoods across the country face little or no problem.”

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