Tag Archives: Short Sales

Distressed sales, including foreclosures and short sales, comprised just 1% of home sales in October 2002 according to new NAR data, down from 2% in September.

The MBA reports that nationwide forbearance volume continues to drop, however the impact of Hurricane Ian may change that trend as servicers continue to report on the devastation from the storm.

The MBA reports that the share of U.S. loans in forbearance fell to 0.85% in May. However, the report cautious that pressure may be placed on those in workout options due to inflation and a rise in rates.

NAR reports that foreclosures and short sales represented less than 1% of total home sales in April 2022, but down slightly from April 2021’s totals.

After peaking at 4.3 million at the height of the pandemic in June 2020, nearly two years later, an estimated 525,000 U.S. homeowners remained in forbearance plans in March.

The number of U.S. loans in forbearance fell once again, with as an estimated 590,000 homeowners remaining in forbearance plans nationwide.

Despite the overall national forbearance rate nearing the 1% mark, the rate of forbearance exits reached another low since MBA began tracking exits in June 2020.

The number of homeowners in forbearance plans fell further in December, as the MBA estimates that just 705,000 U.S. homeowners are currently in some stage of forbearance.

With nearly 835,000 homeowners in forbearance plans, a recovering economy has hastened the pace of those entering permanent loan workout solutions.

Improvements in the nation’s jobs numbers have increased the number of forbearance exits as estimated total of just one million homeowners remain in forbearance plans.