There has been some talk about an increase in foreclosures, causing concern about a potential market crash. However, it’s important to put this information into context.
While foreclosure filings have indeed increased slightly, the headlines often miss a critical point: they are comparing current figures to a period when foreclosures were at a historic low due to the moratorium and forbearance programs implemented during the Covid-19 pandemic.
When we analyze the data from 2008 onward, it’s evident that today’s foreclosure rates are significantly lower than those during the housing crisis. In fact, they’re even below the levels seen in a typical year like 2019.
So, despite how alarming it might sound, the current situation does not indicate an impending crash, and we have the data to back this up. If you’d like to know the data analysis on this matter or assistance, feel free to call us.
