Trusted Realtors in Rowland Heights, CA

Housing Foreclosure Activity Still Lower Than the Norm (Part 1 of 2) Have you seen headlines talking about the increase in foreclosures in today’s housing market? If so, they may leave you feeling a bit uneasy about what’s ahead. But remember, these clickbait titles don’t always give you the full story. The truth is, if you compare the current numbers with what usually happens in the market, you’ll see there’s no need to worry. Putting the Headlines into Perspective The increase the media is calling attention to is misleading. That’s because they’re only comparing the most recent numbers to a time where foreclosures were at historic lows. And that’s making it sound like a bigger deal than it is. In 2020 and 2021, the moratorium and forbearance program helped millions of homeowners stay in their homes, allowing them to get back on their feet during a very challenging period. When the moratorium came to an end, there was an expected rise in foreclosures. But just because foreclosures are up doesn’t mean the housing market is in trouble. Historical Data Shows There Isn’t a Wave of Foreclosures Instead of comparing today’s numbers with the last few abnormal years, it’s better to compare to long-term trends – specifically to the housing crash – since that’s what people worry may happen again. Take a look at the graph below. It uses foreclosure data from ATTOM, a property data provider, to show foreclosures has been consistently lower (shown in orange) since the 2008 crash...