Foreclosures To Increase in 2021

[Jim Cummings]

Barring a continuation of the Eviction Moratorium and additional action to limit Lenders from Foreclosing on Homeowners and landlords, expect to see an increase in 2021 and probably beyond. 

Received the following today from a Foreclosure Listing Service in Texas that monitors the major counties in the DFW, Austin & San Antonio areas of Texas.

Almost every county we cover showed an increase in postings for the first auction of 2021. We have seen banks and lenders increase posting volumes as anticipation increases for news on eviction and foreclosure moratoriums and potential new stimulus package. I included a quick chart showing posting counts over the past year. Notice that this increase is just the first step in what we hope is a trend for 2021 and we still have a ways to go to get to pre-covid posting levels.

Here are some stats from some of our larger counties:

• Dallas County: 176 (+85%) (Dallas)
• Collin County: 42 (+50%) (Plano)
• Denton County: 43 (+126%) (Denton - North Of DFW)
• Tarrant County: 101 (+51%) (Fort Worth)
• Bexar County: 138 (+14%) (San Antonio)
• Harris County: 409 (+19%) (Houston)
• Travis County: 40 (+54%) (Austin)
• Williamson County: 18 (+50%) (Austin / Round Rock /Georgetown)
• Bell County: 29 (+61%) (Temple)

[Bryan Mitchell]

@Jim Cummings, thank you very much for the insight. Yes, it only makes sense to see more foreclosures. However, I still believe that there will be demand by investors. So while prices might come down a little bit, their drop will be minimal due to the large number investors looking to invest in the area. Still goes back to supply and demand economics. Those of us who were around and active and investing during the great recession, saw a lot. Now by no means will it look like that, at least I don’t think so, but I use that time to compare against today. Certain areas were affected more or less than others. In my opinion, DFW less than others.