U.S. Percentage of Distressed Home Sales Foreclosures & Short Sales as % of Total Sales, by Month, since 2009*
50%
There were 3 huge factors in the 2008-2011 home-price crash: 1) An enormous flood of foreclosure and short sales caused by (predatory) subprime lending, 2) the 2008 collapse in financial markets, and 3) rising unemployment. Soaring mortgage delinquency rates are a leading indicator of crisis in both the housing market and the economy. Due to long-term, fixed-rate mortgages taken out during an extended period of extremely low interest rates, plus substantial home-price appreciation, distressed property sales remain close to historic lows.
45%
Market recession, foreclosure crisis
40%
35%
30%
25%
20%
15%
Updated through November 2024
10%
Pandemic hits ▼
5%
2009
0%
*per Realtors® Confidence Index Survey. Data copyright National Association of Realtors®. All rights reserved. Used with permission. All numbers are approximate good-faith estimates based on a survey of Realtors. Data from sources deemed reliable but may contain errors and subject to revision.
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