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Third Quarter Foreclosure Notices Rose 34% from Last Year to Roughly 125,000, According to ATTOM Report

  • Foreclosure notices in the third quarter of the year increased by 34% from last year, reaching nearly 125,000, as reported by ATTOM.
  • The surge in foreclosures may raise concerns about the stability of the housing market and the potential impact on home prices.

Important Points

Surge in Foreclosure Notices

According to a recent ATTOM report, foreclosure notices in the third quarter of this year jumped by 34% compared to the same period last year, totaling nearly 125,000. This significant increase may raise concerns about the stability of the housing market and the potential impact on home prices. The ongoing pandemic and economic uncertainty may be contributing factors to this surge in foreclosure notices.

Potential Impact on the Housing Market

The increase in foreclosure notices could potentially affect the housing market, with more distressed properties becoming available for sale. This may lead to downward pressure on home prices in some areas, particularly if there is a significant influx of foreclosed properties. Additionally, the surge in foreclosures could potentially impact the availability of mortgage credit and influence lending practices.

Insights

As a real estate expert, I understand the importance of staying informed about market trends and their potential impacts on the housing market. The recent surge in foreclosure notices is a concerning development that could have implications for home prices and the overall stability of the market.

Whether you’re looking to buy a home or sell a home, partnering with an experienced real estate agent can provide valuable insights and guidance throughout the process. By working with a knowledgeable professional, you can confidently navigate the market and make well-informed decisions, even in the face of potential market challenges such as rising foreclosure rates.


Orginal article: Link To Article – provided by Kansas City Realtors