A new report from Realtor.com® is tracking the recent trajectory of foreclosures, which occur when homes become Real Estate Owned (REO) and are listed by banks.
These properties often wind up on multiple listing services and online platforms, creating new inventory for prospective buyers. The research shows that after a period of suppression following the COVID-19 pandemic, the rate of foreclosures has ticked up in recent years.
However, while foreclosures are now about as common as they were in 2019, they remain well below the levels seen during the Great Financial Crisis. This trend represents a balancing act in the housing market. While it indicates that some homeowners are facing financial distress, it also paves the way for new buyers to enter the market…