Auction.com in the news

AUCTION.COM IN THE NEWS

Auction.com In the News

How Has Demand for Occupied REOs Recovered During a Pandemic?

The nationwide eviction moratorium put into place following the pandemic declaration created havoc for distressed property supply, including occupied bank-owned (REOhomes. 

“Demand for REOs dropped in the days and weeks immediately following the enactment of a nationwide eviction moratorium in late March,” said Auction.com VP of Market Economics Daren Blomquist. “The occupied REO sales rate dropped to a record low in April. 

Today, occupied REO demand tells a much different story, even though Auction.com requires all REO buyers to sign a Community Stabilizing Pledge agreeing to refrain from evictions until the year’s end. 

Learn more about the V-shaped recovery of occupied REOs in the latest episode of Disposition Download.