Categories AlphaGraphs, Analysis, Markets

There are way too many ‘zombie’ homes in America: Report

American cities are too busy, and one might think people really don’t have enough space to live. However, if we take the United States as a whole, there are way too many vacant homes.

According to a recent study, it was revealed that nearly 1.5 million US single-family homes and condos were vacant at the end of the third quarter. A report by property database ATTOM Data Solutions shows that this represents 1.52% of all homes in the US.

Another amusing fact that came up was that by the end of Q3, there were 10,291 vacant “zombie” foreclosures homes in the US — 3.38% of all homes actively in the foreclosure process.

 10 Counties with the Highest Share of Vacant Homes

Tennessee led the pack with the highest share of vacant homes (2.65%), followed closely by Kansas (2.50%) and Oklahoma (2.49%.) Finishing the top 5 were Mississippi (2.47%), and Indiana (2.45%.)

When taking metropolitan statistical areas, Flint, Michigan led with a 6.99% vacant rate. Baltimore City, Maryland (7.83%) was the leader in counties.

At least one in 10 homes vacant in 217 zip codes

Among the 15,957 US zip codes in the report, 217 had a combined population of more than 2.8 million. These zip codes posted a vacant home rate of at least 10% at the end of the third quarter.

46402 in Gary, Indiana was 31.41% vacant, while 48505 in Flint, Michigan was 31.17%, the highest among them and touching the 30% mark.

The analysis, however, included only metropolitan statistical areas with at least 100,000 single family homes and condos, and counties with at least 50,000 single family homes and condos.

 

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

Infographic: Nvidia (NVDA) Q4 revenue up 61%; earnings beat

Nvidia Corporation (NASDAQ: NVDA) Wednesday said its fourth-quarter revenues and profit increased in double-digits amid elevated demand. The results also topped the Street view, driving the stock higher during the

Nutanix (NTNX) Earnings: 2Q21 Key Numbers

Nutanix (NASDAQ: NTNX) reported second quarter 2021 earnings results today. Total revenue remained flat at $346.4 million compared to the same period a year ago. GAAP net loss was $287.3

Macy’s (M) expects digital channels to generate approx. $10 billion in sales by 2023

Shares of Macy’s Inc. (NYSE: M) were down 2.7% in morning trade on Wednesday. The stock has gained 37% since the beginning of the year. A day ago, the retailer

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top