Fla. is home to 1/3 of U.S. zombie foreclosures

IRVINE, Calif. – June 26, 2014 – According to RealtyTrac, Florida was home to one-third (48,630) of U.S. zombie foreclosures in the second quarter – properties in the foreclosure process in which the owner has moved out but the bank has not yet taken back the home. Other states in the top five include New York (12,666), New Jersey (12,170), Illinois (11,925), and Ohio (7,390)

Nationwide, 21 percent of properties in foreclosure – one in every five – is vacated by the owner before the foreclosure is completed. While high, the number is down 7 percent from first quarter 2014 and 16 percent from second quarter 2013.

Florida ranked second in the length of time a zombie home remains empty: 411 days. In first-place New York it’s 418 days, with New Jersey (378 days), Illinois (272 days) and Hawaii (249 days) rounding out the top-five list.

By lender, Wells Fargo has the most zombie homes in the foreclosure process with 18,695, followed by Bank of America (15,175), Chase (10,312) and US BankCorp (10,141).

Metros with most zombie homes

• New York-Northern New Jersey-Long Island: 13,574
• Miami-Fort Lauderdale-Pompano Beach: 12,958
• Chicago-Naperville-Joliet: 9,975
• Tampa-St. Petersburg-Clearwater: 9,643
• Philadelphia-Camden-Wilmington: 6,101
• Orlando-Kissimmee: 5,221
• Jacksonville: 3,532
• Palm Bay-Melbourne-Titusville: 2,041
• Atlanta-Sandy Springs-Marietta: 1,906
• Sarasota-Bradenton-Venice: 1,845

Metros with biggest percent of zombie homes as a percent of all foreclosures

• Homosassa Springs, Fla.: 43%
• Portland-Vancouver-Beaverton: 37%
• Birmingham-Hoover: 37%
• Ocala: 36%
• Fort Walton Beach-Crestview-Destin: 35%
• St. Louis: 34%
• Worcester, Mass.: 33%
• Port St. Lucie: 33%
• Punta Gorda: 33%
• Binghamton: 33%
• Las Vegas-Paradise: 32%
• Palm Bay-Melbourne-Titusville: 32%
• Deltona-Daytona Beach-Ormond Beach: 32%
• Gainesville: 31%
• Fort Wayne: 31%

Florida county zombie homes by percent and total number

Alachua County: 31% (464 homes)

Baker County: 27% (28 homes)

Bay County: 30% (372 homes)

Bradford County: 29% (40 homes)

Brevard County: 32% (2,041 homes)

Broward County: 20% (4,515 homes)

Calhoun County: 48% (20 homes)

Charlotte County: 33% (600 homes)

Citrus County: 43% (675 homes)

Clay County: 28% (615 homes)

Collier County: 21% (465 homes)

Columbia County: 32% (76 homes)

De Soto County: 22% (53 homes)

Dixie County: 14% (4 homes)

Duval County: 30% (2,356 homes)

Escambia County: 18% (356 homes)

Flagler County: 20% (256 homes)

Franklin County: 18% (21 homes)

Gadsden County: 32% (93 homes)

Gilchrist County: 37% (30 homes)

Glades County: 19% (5 homes)

Gulf County: 22% (29 homes)

Hamilton County: 29% (10 homes)

Hardee County: 28% (40 homes)

Hendry County: 19% (38 homes)

Hernando County: 32% (698 homes)

Highlands County: 33% (239 homes)

Hillsborough County: 26% (3,232 homes)

Holmes County: 31% (28 homes)

Indian River County: 27% (330 homes)

Jackson County: 35% (56 homes)

Jefferson County: 0% (0 homes)

Lafayette County: 55% (6 homes)

Lake County: 10% (309 homes)

Lee County: 29% (1,542 homes)

Leon County: 26% (371 homes)

Levy County: 34% (67 homes)

Liberty County: 10% (2 homes)

Madison County: 50% (10 homes)

Manatee County: 29% (721 homes)

Marion County: 36% (1,103 homes)

Martin County: 31% (322 homes)

Miami-Dade County: 15% (4,793 homes)

Monroe County: 16% (73 homes)

Nassau County: 28% (136 homes)

Okaloosa County: 35% (527 homes)

Okeechobee County: 27% (69 homes)

Orange County: 26% (3,117 homes)

Osceola County: 17% (642 homes)

Palm Beach County: 23% (3,650 homes)

Pasco County: 35% (2,321 homes)

Pinellas County: 32% (3,392 homes)

Polk County: 30% (1,744 homes)

Putnam County: 33% (142 homes)

Saint Johns County: 28% (397 homes)

Saint Lucie County: 33% (1,048 homes)

Santa Rosa County: 31% (324 homes)

Sarasota County: 29% (1,124 homes)

Seminole County: 29% (1,153 homes)

Sumter County: 27% (98 homes)

Suwannee County: 32% (42 homes)

Taylor County: 25% (12 homes)

Union County: 30% (12 homes)

Volusia County: 32% (1,304 homes)

Wakulla County: 35% (97 homes)

Walton County: 22% (132 homes)

Washington County: 37% (43 homes)

© 2014 Florida Realtors®

Reprinted with permission. Florida Realtors®. All rights reserved.

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