The presence of “zombie” properties in Massachusetts is declining, according to a report from real estate analysis company ATTOM.
These abandoned homes, which sit vacant during the foreclosure process, often become decrepit, lowering local property values and signaling a faltering economy. But in the Bay State, they are rare.
ATTOM assessed county tax data for 104.1 million zombie properties nationwide and found that Massachusetts saw the biggest yearly decrease among states with at least 50 such properties.
Year over year, the amount of zombie homes in Massachusetts decreased 48.7%.
One Massachusetts city had the lowest percentage of vacant pre-foreclosure homes of any metro area in the United States. In Barnstable, 0% of properties fell into the zombie category.
“Thankfully, we’re not seeing a lot of homes sitting vacant due to pending foreclosures, which is good for families, neighborhoods and the market,” said Rob Barber, CEO of ATTOM. “So far, buyers seem to be scooping up these repossessed homes relatively quickly, so they aren’t sitting empty. Nobody wants to see a return to the days of the 2008 housing crisis when vacant, blighted homes were common in many parts of the country.”
