A new report from Realtor.com® finds that the rate of foreclosures has increased in recent years. This follows a period of suppression due to homeowner protections enacted during the COVID-19 pandemic.
When a home is foreclosed upon and isn’t purchased at auction, it can become Real Estate Owned (REO). These properties are then listed for sale by banks on various online platforms and multiple listing services.
However, while foreclosures are now about as common as they were in 2019, the rate remains well below the levels seen during the Great Financial Crisis. This suggests a market adjustment rather than a widespread crisis…