Are foreclosure homes in the future for DFW Real Estate?
I have been asked this questions by my clients a lot these days.
No one can predict the future but the stats below should give us a good indication of the future.
- Only about 2% of DFW homes with loans are seriously underwater.
- In the DFW area, more than 40% of homes with loans have high amounts of equity.
- And only about 12,400 home loans are seriously underwater.
Here’s why DFW owners are in the black with equity:
- 4 out of top 10 new home starts are in Texas with DFW being #1.
- Soaring home values put DFW owners in the black with equity.
- Texas median home sales prices were up 19% year over year in the 2nd Qtr.
- “Instead of the virus pandemic harming homeowners, it’s helped create conditions that have boosted the balance sheets of households all across the country,” Attom Data’s Todd Teta said in the new report.
“There are still a lot of questions hanging over the near future of the U.S. housing market, with some connected to how well the economy keeps recovering from the pandemic, and some not,” said Todd Teta.
One area may have the highest impact in the future where more than 5% of mortgages are seriously underwater, according to Attom Data.
If you are an investor waiting for the market to shift, sign up on our list to get a head start for any foreclosure opportunities that come on the market.
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Data, courtesy of Steve Brown with Dallas Morning News
