Decoding Foreclosure Headlines in San Antonio: Insight by Krista Klause

🔑 Real Estate Expertise by Krista Klause, San Antonio Area Realtor 🔑

Noticing headlines about rising foreclosures in the housing market? Let's clarify what this means for San Antonio and why there's no cause for alarm.

Understanding the Headlines

Recent media reports highlight an increase in foreclosures, but this view can be misleading. They compare current data to the pandemic period, when foreclosures were at an all-time low due to moratoriums and forbearance programs.

Historical Context Matters

Looking at long-term trends, today's foreclosure rates are significantly lower than during the 2008 housing crash. Current figures are only about 60% of pre-pandemic levels, as stated by Rick Sharga of the CJ Patrick Company. The ATTOM graph confirms that current foreclosure activity is nowhere near past crisis levels.

Strong Market Fundamentals

Today's buyers are generally more financially stable, and delinquency rates remain low. Many homeowners have substantial equity, reducing the risk of foreclosure. CoreLogic's Molly Boesel notes the overall mortgage delinquency rate is stable, and serious delinquencies are at historic lows.

Bottom Line for San Antonio

While foreclosures are increasing, they're not indicative of a market crisis. For those in San Antonio and surrounding areas, it's important to understand the broader context. If you're concerned or curious about the market, a conversation with a knowledgeable real estate agent can provide clarity.

📞 For accurate insights and guidance on San Antonio's housing market, contact Krista Klause.