The data shows that Auction.com buyers are having a positive impact on underserved neighborhoods.
These buyers are well-aligned when it comes to achieving the prerequisites of President Biden’s neighborhood homes tax credit proposal.
“Among the more than 110,000 distressed property sales on the Auction.com platform between 2018 and 2020 with Census tract information available, 49.2 percent were subsequently resold,” said Daren Blomquist, VP of Market Economics. “Also, 69.7 percent of those resold homes were owner-occupied after the resale, well above the national homeownership rate of 65.6 percent in the first quarter of 2021.”
Watch the latest episode of Disposition download to learn how Auction.com buyers are leading the way when it comes to impacting underserved neighborhoods.