Articles

As we enter the fourth quarter of 2022, we must be reminded that it's... the fourth quarter. In a "normal" market, this is typically the slowest time of the year. In the last couple of years, most buyers paid no attention to the holidays and weather. High demand, low inventory, and historic low-interest rates took a December market and turned it into a May market.  Rates have jumped up, the market has slowed down, and the country is starting to feel inflation. 

Many of the loans that defaulted back in 2008 were adjustable rates and subprime with lax lending standards. That was not the case in the last few years. In the first six months of 2022, there were 164,581 foreclosure filings in the U.S. While that number may sound high, it is not. In 2008, we had 1,332,991.  (statistics provided by ATTOMDATA.com) 

We are undoubtedly normalizing, and some of that will be an uptick in a very low foreclosure rate.  Is a market crash coming soon? The data points toward no, but it makes for eye-catching headlines.