96
The Big Finish
Wrap your head
around the market's
leading indicators.
WHERE FORECLOSURES
WERE HIGHEST IN 2021
A new analysis by digital homeownership platform Knock has found that as the nation's double-digit home price appreciation has
pushed homeowner's equity to record highs, it is not necessarily good news for all homeowners.
While the nation's recent home price has boosted homeowners struggling with underwater mortgages, for others, the housing
boom fueled by low rates and the pandemic have resulted in higher tax burdens.
Knock's analysis focused on the impact of home price appreciation, unemployment rates, debt-to-income ratios, income
inequality, and the length of the foreclosure process on real estate-owned (REO) transactions, found that those already struggling to
meet their mortgage payments are at the greatest risk of losing their home to foreclosure as property taxes rise. ese are the places
where foreclosures occur the most and how long the process takes.
Source: Knock.com,
"2021 Brings in New
States Topping the
Foreclosure Charts"
2021 TOP FORECLOSURE STATES (JAN. 2021 – SEPT. 2021)
96
RANK STATE
REO
TRANSACTIONS
AVERAGE HPI %
CHANGE YOY
AVERAGE
UNEMPLOYMENT
RATE
DEBT-TO-INCOME
RATIO
AVERAGE LENGTH
OF FORECLOSURE
PROCESS (DAYS)
1 VA 3% 18% 4.6% 1.82 393
2 GA 2% 21% 4.1% 1.46 442
3 NJ 2% 20% 7.4% 1.46 841
4 MS 2% 14% 6.1% 1.56 133
5 NY 2% 19% 8.0% 0.74 885
NATIONAL 1% 20% 5.6% 1.5 614
