ATTOM Insight - June 2024
Welcome to ATTOM Insights for June 2024
Below you will get a quick recap on the latest housing market press releases, from the release of our quarterly mortgage origination report, foreclosure market report, quarterly housing impact report, quarterly home flipping report and other noteworthy insight that occurred in June 2024.
U.S. Home-Mortgage Lending Declines Again in First Quarter, Nearing Low Point
First-quarter 2024 U.S. Residential Property Mortgage Origination Report, showed that 1.28 million mortgages secured by residential property (1 to 4 units) were issued in the United States during the first quarter, representing a 6.8 percent decline from the previous quarter. The drop-off marked the 11th in the last 12 quarters, to the lowest level since 2000.
Read the full press release here.
U.S. Foreclosure Activity Sees a Monthly Increase in May 2024
ATTOM released its May 2024 U.S. Foreclosure Market Report, which showed there were a total of 32,621 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — up 3 percent from a month ago but down 7 percent from a year ago.
Read the full press release here.
Higher Risk of Housing Market Slowdown Continues in California, New Jersey, and Illinois
The Special Housing Risk Report spotlighted county-level housing markets around the United States that are more or less vulnerable to declines, based on home affordability, underwater mortgages and other measures in the first quarter of 2024. The report showed that California, New Jersey and Illinois once again had the highest concentrations of the most-at-risk markets in the country, with some of the biggest clusters in the New York City and Chicago areas, as well as inland California. Less-vulnerable markets remained spread mainly throughout the South and Midwest.
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Read the full press release here.
Home Flipping Activity and Profits Both Rise Across U.S. in First Quarter of 2024
First-quarter 2024 U.S. Home Flipping Report showed that 67,817 single-family homes and condominiums in the United States were flipped in the first quarter. Those transactions represented 8.7 percent, or one of every 12 home sales nationwide, during the months running from January through March of 2024.
Read the full press release here.
WEBINAR: 2024 Mid-Year Housing Marketing Outlook
Features a comprehensive analysis of the current housing market, provides an overview of economic conditions, shares detailed insights on the distressed market, and explores the latest data on sales prices, inventory, home affordability, supply and demand, and more.
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