By DON FENLEY
TRI-CITIES, Tenn. – Local foreclosures were well below pre-pandemic levels at mid-year, and the local growth rate is a little faster than what the nation experienced.
Since the first of the year, 202 foreclosures have been filing in the region. This time last year there was 178, according to ATTOM’s Midyear Foreclosure Market Report. ATTOM is a leading curator of land, property, and real estate data. It’s analysis shows the US foreclosures were up 13% from last year. The local growth rate is 13.5%.
Foreclosure activity on the US and local level maintained an upward trajectory. “Although overall foreclosure activity remains well below historical reforms, the notable surge in foreclosure starts indicated we may continue to see a rise in foreclosure activity in the coming year,” according to Rob Barber, ATTOM’s CEO.
The largest year-over-year growth in the Tri-Cities region was in the Johnson City metro area. There were 78 filings in the three-county metro area, up 21.9% while the 124 filings in Kingsport-Bristol were up 8.8%.
Sullivan Co. is the largest housing market in the region and had more filings (63) than any other county in the region. So far this year, Washington Co. TN had 45 new filings.
Categories: REAL ESTATE