Monday, December 23, 2024

U.S. Foreclosures Increase In First Quarter

2024-04-11 08:42:00  |  housing 

... e figures as signs of a "market in transition," noting minor upticks in filings and starts juxtaposed against a noteworthy decline in REO (Real Estate Owned) properties. He comments, "While foreclosures remain relatively stable, we're closely monitoring these trends. Homeowners continue to hold significant equity, contributing to a persistently hot housing market." Nationwide Trends The report highlights an increase in foreclosure starts across the country, with 67,657 properties beginning the foreclosure process in Q1 2024. This is up by 2 percent from the previous quarter and 4 percent fro...

Total Household Debt Increases in Q1 2022

2022-05-10  |  consumers debt 

... ourth quarter of 2021, reflecting the partial resumption on new foreclosures. Although the hold on foreclosures due to CARES was lifted on July 31, 2021, additional federal and state policies may continue to forestall some foreclosure starts. The share of mortgage balances 90+ days past due remained at 0.5%, a historic low. Student Loans Outstanding student loan debt stood at $1.59 trillion in Q1 2022, a $14 billion increase from Q4 2021. About 5% of aggregate student debt was 90+ days delinquent or in default in Q1 2022. The lower level of student debt delinquency ref...

U.S. Foreclosure Activity Continues To Increase Despite Government Moratorium

2021-04-15 12:00:00  |  housing real estate 

...  abandoned properties, which benefits neighborhoods and communities. It's likely that these foreclosures are causing the slight uptick we've seen over the past few months." Highest foreclosure rates in Delaware, Illinois, and FloridaNationwide one in every 4,078 housing units had a foreclosure filing in Q1 2021. States with the highest foreclosure rates were Delaware (one in every 1,705 housing units with a foreclosure filing); Illinois (one in every 2,175 housing units); Florida (one in every 2,237 housing units); Indiana (one in every 2,397 housing units); and Ohio (one in every 2,500 ...

Existing-Home Sales Drop 6.6% in February

2021-03-22 12:00:00  |  housing 

... oth 19% in January and from 20% in February 2020. Distressed sales – foreclosures and short sales – represented less than 1% of sales in February, equal to January’s percentage but down from 2% in February 2020. Single-family and Condo/Co-op Sales Single-family home sales decreased to a seasonally-adjusted annual rate of 5.52 million in February, down 6.6% from 5.91 million in January, and up 8.0% from one year ago. The median existing single-family home price was $317,100 in February, up 16.2% from February 2020. Existing condominium and co-op sales were recorded ...

Annual Home Sales See Highest Level Since 2006

2021-01-22  |  housing 

... ccounted for 19% of transactions in December, down from 20% in both November and December 2019. Distressed sales – foreclosures and short sales – represented less than 1% of sales in December, equal to November's percentage but down from 2% in December 2019. "NAR will work with the incoming Biden administration in pursuit of policies promoting housing affordability and accessibility," said NAR President Charlie Oppler, a Realtor® from Franklin Lakes, N.J., and the CEO of Prominent Properties Sotheby's International Realty. "We were pleased with the homebuyer tax credit President Bid...

Foreclosures Drop to 16 Year Low

2021-01-14  |  housing foreclosures 

... m last year included Oregon (down 79 percent); Kansas (down 77 percent); Arkansas (down 77 percent); Nevada (down 71 percent); and Massachusetts (down 70 percent). Counter to the national trend, Idaho saw a slight uptick (up 4 percent) from last year. Those metropolitan statistical areas with a population greater than 1 million that had at least 500 foreclosure starts in 2020 and saw the greatest decline in foreclosure starts from last year, included Jacksonville, Florida (down 74 percent); Las Vegas, Nevada (down 74 percent); Washington, DC (down 72 percent); Memphis, Tennessee (down 72 per...

Home Value Disparities Between Races Shrinking

2021-01-05  |  housing demographics 

... ted to take advantage of the most vulnerable communities, and the ensuing wave of foreclosures hurt homeownership and home values disproportionately for Black and Latinx homeowners. Fast forward 12 years, and homeownership rates and home values are still recovering for these communities. While home value growth turned positive for U.S. homes in August 2012, it took an additional two years for Black and Latinx homes to see this same growth. "It has taken nearly a decade for the home value gap to return to pre-recession levels, but still, the gap remains very large," says Zillow economist Tre...