Foreclosure Activity in 2021 Dropped To An All-Time Low
According to ATTOM Data’s Year-End 2021 U.S. Foreclosure Market Report, there were 151,153 foreclosure filings on U.S. properties in 2021, down 29% from 2020 and down 95% from a peak of nearly 2.9 million in 2010, to the lowest level since tracking began in 2005. They say the 151k properties with foreclosure filings in 2021 represented 0.11% of all U.S. housing units, down from 0.16% in 2020 and down from a peak of 2.23 percent in 2010. In addition, data for December 2021 shows there were 17,971 properties with foreclosure filings, down 8% from November but up 65% from a year ago. Indeed…
“The COVID-19 foreclosure tsunami that some people had anticipated is clearly not happening…Government and mortgage industry efforts have prevented millions of unnecessary foreclosures, and while it’s likely that we’ll see a slight increase in the first quarter, we probably won’t see foreclosure activity back to normal levels before the end of 2022.” Said Rick Sharga, executive vice president at RealtyTrac, an ATTOM company.
Click here to read the full report at ATTOM.
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