No Foreclosure Wave in Sight: What You Need to Know About Today’s Housing Market

With rising costs, many people worry that homeowners might struggle with mortgage payments, leading to a surge in foreclosures. But before hitting the panic button, let’s look at the facts. The latest data shows no wave of foreclosures on the horizon, and today's market is much stronger than the 2008 crash.

Unlike 2008, homeowners now have significant equity in their homes. This equity acts as a safety net, allowing those facing financial hardships to sell their homes rather than fall into foreclosure. While foreclosure filings have ticked up slightly since 2020, this is largely due to the end of a temporary moratorium. Overall, filings are still much lower than during the housing crash.

In short, today’s homeowners are in a much better position than before, thanks to higher equity and more options to avoid foreclosure.

Bottom Line: Rising costs don’t mean we’re facing another foreclosure crisis. If you're concerned about the housing market, reach out to Krista Klause and her team, your go-to real estate experts, for guidance! 👩‍💼💼