Tri-Cities’ region virtually free of housing market zombies


The Tri-Cities area housing market is not a good place for zombies – at least not those of the foreclosure ilk.

RealtyTrac’s Q3 Residential Property Vacancy and Zombie Foreclosure Report there were 18,304 housing zombies out there. A housing zombie is a vacant property active in the foreclosure process. That accounts 4.7% of all residential properties in foreclosure and it down 9% from Q3 last year.

Here in the Tri-Cities region there were only six zombies: three in Greene Co.; one in Carter Co.; one in Hawkins Co. and one in Wise Co.

During the quarter there were 108 area properties that were in the foreclosure process.

The two largest housing markets – Sullivan and Washington CO. TN – accounted for 69 of those in-process foreclosures, but no zombies.

Here’s a snapshot of the share of total vacancies that properties actively in the foreclosure process claimed in Q3:

  • Carter Co. – 1.1%
  • Greene Co. – 0.9%
  • Hawkins Co. – 0.99%
  • Johnson Co. – 0.8%
  • Sullivan Co. – 2.4%
  • Unicoi Co. – 1.5%
  • Washington Co. TN – 4.8%
  • Bristol VA – 1.6%
  • Lee Co. VA – 0.5%
  • Norton – 0%
  • Scott Co. VA – 22% (Scott Co. had a total of nine vacant properties – the lowest number in the region)
  • Washington Co. VA – 7.5%
  • Wise Co. VA – 0.6%

 

 

 

 

 

 

Trackbacks

  1. […] Zombie foreclosures are covered in a separate report. You can rest peacefully. The local housing market has been very successful in getting rid of its zombie. CLICK HERE  […]

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