IRVINE, CA—The number of zombieforeclosures—properties that have begun the foreclosureprocess but have never been foreclosed and the homeowner hasvacated the property—has decreased 7% from the first quarter of theyear and has decreased 16% from second-quarter 2013, according toRealtyTrac. The foreclosures are one of thelingering legacies of the recent housing crisis, a byproduct oflengthy foreclosure timelines and changing state foreclosurestatues, but they are on a downward spiral.

One in every five foreclosures has been vacated by the homeownerbefore the foreclosure is completed, a total of 141,406 zombieforeclosures nationwide in Q2, totaling 21% of total properties inforeclosure, RealtyTrac reports. There were 24 states bucking thetrend with an increasing number of zombie foreclosures from theprevious quarter, plus DC, and 10 states plus DC saw an increasefrom a year ago, including New Jersey, New York and Maryland.

States with the most zombie foreclosures include Florida, whichaccounted for more than one-third of all zombie foreclosures, NewYork, New Jersey, Illinois and Ohio. The states with the zombiesthat had been in foreclosure for the longest average time were NewYork, Florida, New Jersey, Illinois and Hawaii. Financialinstitutions listed as the beneficiary on the foreclosure documentswith the most zombie foreclosures were WellsFargo, Bank of America,Chase and US BankCorp.