Zombie foreclosures are increasing because inflation and housing costs leave some homeowners unable to pay their mortgage.
Five states in the US have seen the highest rate of these pre-payments because the 30-year fixed-rate mortgage is around 7%.
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Zombie foreclosures occur when the homeowner leaves their house before a pre -payment is completed, as the process may be long and homeowners still forced to pay taxes and insurance on their property.
Only in the first quarter of 2025, at least 212,268 residential properties were under pre -payment, while 7,094 sits empty In a report by Zombie Foreclosors, Atom data solutions.
Every 14,668 US homes have been evacuated due to an estimated pre -payment.
“The buyer’s focus is constantly in the midwest in the affordable places as the cost of many household shoppers is in high -cost markets.” Realtor.com Senior Economic Research Analyst Hannah Jones.
Jones explained that low overall pre -payment rates in the Midwest indicate that most homeowners who face financial difficulties can still sell their home to profits instead of pre -payment.
Revelation
While predispters are usually rare in the midwest, many states in this area have a rate to close the average zombies than average.
This trend may arise from the misconduct about the pre -payment process, economic conflicts in some areas, or prolonged timelines.
The largest annual increase in the Zombie foreclosors in the first quarter of this year was in the report by Atom in Missouri, Michigan, South Carolina, India and Kansas.
1. Missouri
The rate of zombie properties in Missouri has increased by 85%, which has increased from 27 to 50 to the same period from the first quarter of 2024 in the same period of this year, according to Atom.
Per Realter.com, Kansas City has an average list of 9 249,000 for sale in the state with an average list price of 43,300 properties.
2. Michigan
The incidence of zombie foreclosors in Michigan has increased by 51% in 55 to 83 years-by-year-year.
About 38,000 homes in the state are listed for sale, the average home list price in the Detroit area, 000 100,000.
3. South Carolina
From the first quarter of 2024 in the state, the zombie properties ranging from 74 to 97 have seen a 31% increase.
Approximately, 54,6. Houses are currently listed for sale in South Carolina, with Median Home List Price $ 645,000 in Charleston.
Zombie foreclosors
While the midwest has seen a year-year-old spike in zombie properties, many popular metro areas also had a significant number of empty homes in the first quarter of 2025.
- Miami-Fort L UD Durdel-West Palm Beach, FL: 747 Empty Properties
- New York-Newark-Jersey City, NY/NJ: 747 empty properties
- Chicago-Neparville-Algin, IL: 472 Empty Properties
- Tampa-St. Petersburg-Clearwater, FL: 324 Empty Properties
- Cleveland-Alleria, OH: 201 Empty Properties
Source: Atom
4. Indiana
From the first quarter of 2024 to the same time this year, India has experienced 28% of the zombie foreclosures from 215 to 276.
There are currently about 44,000 properties in the state, with a middle list of $ 255,000 in Indianapolis.
5. Kansas
With the highest annual increase in zombie properties, states are ranked fifth, Kansas, which has seen an increase of 26% from 69 to 87.
About 14,200 homes in the state are for sale, which costs a middle list Evil 0 270,000.
While these five states have seen an increase in zombie foreclosors, the U.S. This type of pre -payment is a “rare sight” in which is a small part of the country’s housing stock, atom CEO Robbery barber Said realtor.com.
He said, “Pre -payment activity continues to take downward trend and the equity of the house remains strong, most neighbors remain free from abandoned properties, which once pose significant risks to the recession in the past.”
Home owners can reduce housing costs and avoid zombie foreclosure by downsizing.
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A couple owns a small house on the beach after giving their 3,000 square feet of house-“you don’t care” what people think.
This story originally appeared on The-sun.com read the full story
