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I have been paying very close attention to the foreclosure rate for sometime now and understand foreclosures are at a 12-year low according to CoreLogic Loan Performance Insights Report. I've noticed it directly in the Columbia, SC market. There are very few bank owned homes listed for sale that are in foreclosure than a year ago; more than ~10%. This trend has shrunk the supply which in turn has created more demand, so most homes in this category are being bid up from their discounted list price, which only helps the bank and not the investor or the person who lost their home. Stay tuned to see if the foreclosure market has finally reached the bottomed or continues its trend. Thanks for reading!
