ATTOM Insight - July 2024
Welcome to ATTOM Insights for July 2024
Below you will get a quick recap on the latest housing market press releases, from the release of our quarterly U.S. Home Affordability Index report, midyear foreclosure market report, commercial foreclosure report, quarterly U.S. home sales report and other noteworthy insight that occurred in July 2024.
Home Affordability Gets Tougher During Second Quarter Across U.S. As Prices Shoot Back Up
Second-quarter 2024 U.S. Home Affordability Report showed that median-priced single-family homes and condos remained less affordable in the second quarter of 2024 compared to historical averages in 99 percent of counties around the nation with enough data to analyze. The latest trend continued a pattern, dating back to early 2022, of home ownership requiring historically large portions of wages around the country amid ongoing high residential mortgage rates and elevated home prices.
Read the full press release here .
Foreclosure Activity in First Half of 2024 Down from Previous Year
Midyear 2024 U.S. Foreclosure Market Report shows there were a total of 177,431 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — in the first six months of 2024. That figure is down 4.4 percent from the same time period a year ago but up 7.8 percent from the same time period two years ago.
Read the full press release here .
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U.S. Commercial Foreclosures Decrease in June 2024
The monthly report on U.S. Commercial Foreclosures reveals a continued increase in commercial foreclosures over the years, from a low of 141 in May 2020, to the current figure of 647 in June 2024. This represents the continuation of a steady increase throughout the period.
Read the full press release here .
Profit Margins for U.S. Home Sellers Mostly Unchanged During Second Quarter Despite Renewed Price Spike
The second-quarter 2024 U.S. Home Sales Report shows that home sellers earned a 55.8 percent profit margin on typical single-family home and condo sales in the United States during the second quarter. That figure was largely unchanged, rising about one percentage point from the first quarter of 2024, but remaining down one point from the second quarter of last year.
Read the full press release here .
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