So-called “Zombie” homes continue to be a problem in Michigan cities.
Attom Data Solutions is out with its annual report on vacant or abandoned residential properties.
Michigan has one of the highest percentages of “zombie” homes, with Flint and Detroit both in the top four nationally for cities with high vacancy rates.
But Attom’s Daren Blomquist says the number of “zombie” homes has dropped significantly since the Great Recession.
“We’re seeing that even in places across Michigan,” says Blomquist.
Blomquist says the negative effect “zombie” homes have had on local real estate markets also appears to be dissipating.
“Home prices in both of those markets are actually increasing pretty robustly,” says Blomquist.
Blomquist says many “zombie” homes are former foreclosed properties that banks or private investors have not been able to find buyers for.
