Monday, January 15, 2024 / by Richard Eimers
Contrary to concerns about a flood of cheap homes entering the market due to foreclosures, real estate experts, including ATTOM CEO Rob Barber, view this surge as a market correction rather than a cause for alarm. According to Barber, it signals a return to more traditional patterns after years of volatility.
Despite the seemingly high numbers, the foreclosure activity represents just 0.26% of all housing units nationwide, and there are approximately 28% fewer individuals at risk of foreclosure than before the COVID-19 pandemic in 2019.
The spike in foreclosure filings over the past two years can be attributed, in part, to foreclosure moratoriums implemented during the pandemic in early 2020. As these mora ...