Auction.com's forecast indicates 69,000 foreclosure-auction sales in 2024, an 8% decrease and the lowest figure since 2021, with factors like 4% home-price growth and a 3.8% unemployment rate impacting projections. Alternative scenarios range from 85,000 to 99,000 sales, less than half of 2019's activity. While delinquencies are rising, significant increases in auction sales are not expected before 2026. Recent data shows foreclosure filings have decreased by 10% from last year, signifying improved stabilization in the housing market post-pandemic.
The company's baseline forecast for foreclosure-auction sales this year is 69,000, indicating a declining trend influenced by home prices and unemployment rates.
Emerging economic risks are leading to higher delinquency rates, but a notable increase in foreclosure auction sales is unlikely before early 2026.
Auction.com emphasizes that even the highest forecast of 99,000 foreclosure-auction sales would represent less than half of the transactions in 2019.
Foreclosure filings have decreased by 10% over the past year and are down 35% from pre-pandemic levels, indicating ongoing stabilization.
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