TOP 10 MOST POTENTIALLY PROFITABLE MARKETS
Q4 2019 FORECLOSURE AUCTION SALES RATE
Q4 2022 FORECLOSURE AUCTION SALES RATE
CHANGE (POINTS)
METRO AREA
Los Angeles-LongBeach-Anaheim, CA Minneapolis-St. Paul-Bloomington, MN-WI Riverside-San Bernardino-Ontario, CA San Francisco-Oakland-Hayward, CA
14.1% 40.6% 17.0% 22.7% 24.3% 20.9% 25.5% 18.4% 24.7% 26.2%
37.7% 60.9% 36.4% 40.6% 41.7% 35.6% 39.5% 32.3% 37.3% 38.4%
24% 20% 19% 18% 17% 15% 14% 14% 13% 12%
Jackson, MS
Birmingham-Hoover, AL
Portland-Vancouver-Hillsboro, OR-WA Boston-Cambridge-Newton, MA-NH
Nashville-Davidson-Murfreesboro-Franklin, TN
Knoxville, TN
average purchase discount of 22% in fourth-quarter 2019. But investors were able to build in a bigger discount cushion relative to pre-pandemic levels in many markets. At the top of that list was Los Angeles, where the average
foreclosure auction purchase discount in fourth-quarter 2022 was 24 percentage points higher than in fourth-quarter 2019. Other West Coast markets in the top 10 in terms of increase in foreclosure auction purchase discounts relative to pre-pandemic levels included Riverside-San Bernardino, also in Southern California; San Francisco; and Portland. Seattle came in just outside the top 10, at No. 11. Remaining markets in the top 10 were Minneapolis-St. Paul; Jackson, Mississippi; Birmingham, Alabama; Boston, Massachusetts; Nashville, Tennessee; and Knoxville, Tennessee. Boston stands out for making both top 10 lists, both in terms of investor popularity and in terms of potential profits. •
properties at an average discount of 17.2% below estimated “as-is” market value in the fourth quarter of 2022, according to Auction.com data. That average discount was 7 percentage points higher than the
Daren Blomquist is vice president of market economics at Auction.com. In this role, Blomquist analyzes and forecasts complex macro and
microeconomic data trends within the marketplace and industry to provide value to both buyers and sellers using the Auction.com platform.
INVESTOR REVIEW :: 13
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