Most Auction.com clients expect a gradual increase in foreclosures over the next 12 months, with 23 percent of seriously delinquent (SDQ) mortgages as of June 2022 expected to go to foreclosure auction over that period, according to Auction.com’s 2022 Seller Insights Report.
The report also shows that a backlog of distressed mortgages from the pandemic is expected to have the most impact on distressed disposition volumes over the next 12 months, beating out regulatory intervention, a recession, home equity, and interest rates.
“Now that most pandemic-era foreclosure protections have expired or are winding down, it’s clear that the proactive response to the pandemic by policymakers and mortgage servicers helped to avoid a feared foreclosure wave triggered by the crisis,” said Jason Allnutt, Auction.com CEO. “While our clients expect to see foreclosures gradually increase over the next year, they are expecting a higher percentage of delinquent mortgages to avoid foreclosure than the historical average prior to the pandemic.”
The report also shows:
- How many clients expect a slight increase in foreclosures vs. a substantial increase
- How likely foreclosures will increase for government-insured mortgages and where they are most likely to happen
- Top reasons for foreclosure auction cancellations and postponements
- And much more
Download the entire 2022 Seller Insights Report now to learn more about distressed auction trends and insights from Auction.com sellers.
National coverage of the 2022 Seller Insights Report includes: