A post-foreclosure analysis of 70,000 properties brought to foreclosure on the Auction.com platform reveals two practical steps for improving homeownership rates.
One way is by selling to third-party buyers at foreclosure auction.
“Third-party buyers resold more than 70 percent of their renovated foreclosures to owner-occupants — well above the national homeownership rate of 66 percent in the first quarter of 2021,” said Auction.com VP of Market Economics Daren Blomquist. “By comparison, less than 45 percent of REOs sold on the traditional market went to owner-occupant buyers.”
Watch the latest episode of Disposition Download to learn more and meet Ian Beniston, a buyer who is producing better outcomes for neighborhoods.