By DON FENLEY

Properties with foreclosure files in the Tri-Cities region were down 14.6% in July. That contrasts what happening nationwide. New filings were up 0.2% nationwide, according to ATTOM’s Foreclosure Market Report. ATTOM is a leading curator of real estate data.

“July’s foreclosure activity reflects a slight shift in the housing market,” said Rob Barber, CEO at ATTOM. “With an 18% increase in foreclosure starts and a 14% rise in completed foreclosures from last month, these shifts may highlight growing pressures in certain areas. However, soaring home prices seem to continue and have spiked the value of homes across the nation, which boosts equity for homeowners at virtually every stage of paying off mortgages. Monitoring these next few months will help us better understand the implications for the real estate sector.”

Home prices in the local market have increased every month so far this year, so the shift seen in the national market is not yet present in NE TN – SW VA market.

Categories: REAL ESTATE