Abandoned homes haunt Florida’s housing market

Florida’s real estate market remains haunted by decaying and abandoned properties even as new foreclosures slow and home values rise.

These so-called “zombie” foreclosures — properties forsaken by both the bank and borrower — number 54,900 statewide, including 14,600 in Palm Beach, Broward and Miami-Dade counties, according to a new report from RealtyTrac.

The concentration in Florida makes it tops in the nation for zombie foreclosures, with South Florida ranking first among large metro areas.

via Abandoned homes haunt Florida’s housing market.