A new report from Realtor.com® is tracking the recent trajectory of foreclosures, which have ticked up in recent years. This follows a period of suppression after the COVID-19 pandemic when various measures kept homeowners in their properties.
Additionally, when a home is foreclosed upon, it can become Real Estate Owned (REO), meaning a bank or lender takes possession. These properties are then often listed on multiple listing services and online platforms, creating new inventory for potential buyers.
As a result, foreclosure rates are now about as common as they were in 2019. However, these levels are still well below the numbers seen during the Great Financial Crisis…