Fascinating Mortgage & Housing Data Points

Foreclosure Details

  • -There have been an average of 1.6 million nationwide foreclosure starts per year for the past five years.
  • -Foreclosure starts nationwide increased on an annual basis after 27 consecutive months of year-over-year declines.
  • -Bank repossessions are still down 18% year over year. Voluntary foreclosure freezes and increasing pre-foreclosure sales are the primary factors.
  • -Distressed home sales, which include both foreclosures and short sales, had fallen substantially. They were down to 28% for April 2012 – significantly less than the 37% in April 2011. (but will be up in the near future)
  • -Distressed sales tend to be about 20% less than non-distressed sales. (for now)
  • 2.8 million Americans are 12 months or more behind on their mortgages.
  • “Since 2007, 19% of all borrowers (~9 million borrowers) have gone >90 days delinquent on their mortgages, or have had their mortgage liquidated.

Full post here…

Recovery here we come!