EOTW: Where are all the foreclosures?

Hey there,

I had to reach out because there’s a lot of confusion about the current state of the housing market – and I want to give you the real story.

In Q3 2024, lenders began the foreclosure process on just 62,380 properties across the U.S., which is down 10% from a year ago.

This figure is also well below pre-pandemic levels.

To put things into perspective, in 2019, foreclosure starts reached 335,985 – and that was already a historic low since 2006.

So, when you see headlines hinting at a housing market crash, know the reality is different.

Yes, we’re facing affordability issues, rising costs of living, and a shortage of new homes. 

But these challenges don’t necessarily indicate a 2008-style crisis. 

The fundamentals of today’s market are much stronger.

As always, I’m here to keep you informed. If you have any questions or want to chat more about what’s happening in the market, feel free to reach out!