Flint, MI San Jose-Sunnyvale-Santa Clara, CA Fort Collins, CO RealtyTrac
- Out of nearly 85 million residential properties (1 to 4 units) nationwide, more than 1.3 million (1.6%) were vacant in February 2016, down from 1.5 million vacant (1.8%) in September 2015.
- Investment properties are more likely to be vacant (4.3% vacancy rate nationwide), but investment property vacancy rates a rock-bottom 3% in more than one-third of U.S. markets — good news for landlords but bad news for renters in those markets.
- Vacant “zombie” foreclosures were down 4% from a year ago nationwide, but continue to increase in a minority of markets, mostly those with a protracted foreclosure process or high numbers of blighted properties.
Also among the five most-troubled markets were Detroit-Warren-Dearborn, MI, and Beaumont-Port Arthur, TX. U.S. Postal Service See the full report from RealtyTrac.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
