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.