at Calculated Risk on 12/13/2024 09:57:00 AM
Today, in the Calculated Risk Real Estate Newsletter: Q3 Update: Delinquencies, Foreclosures and REO
A letter excerpt:
We will NOT see a surge in foreclosures that would significantly impact house prices (if happened following the housing bubble) for two key reasons: 1) mortgage lending has been solid, and 2) most homeowners have substantial equity in their homes.
…This graph shows the nominal dollar value of Residential REO for FDIC insured institutions based on the Q3 FDIC Quarterly Banking Profile released yesterday. Note: The FDIC reports the dollar value and not the total number of REOs.
The dollar value of 1-4 family residential Real Estate Owned (REOs, foreclosure houses) was mostly unchanged YOY from $747 million in Q3 2023 to $765 million in Q3 2024. This is historically extremely low.
There is much more in the article.