Trends regarding Foreclosures amidst COVID-19

In this podcast we dig into the question I have been asked quite often recently: When will we see the foreclosures from COVID-19?

The answer is, according to the statistics currently available, is that they aren't coming. 3% of homeowners across the US are underwater on their mortgages, while the other whopping 97% have enough equity in their homes to sell in the standard fashion to downsize or come up with a more cost efficient housing option.

Since there aren't a seeming abundance of foreclosures coming on the market my tip is to start lining things up for the potential for entry-level housing opportunity. Higher priced items have been selling like crazy, while the 300k - 500k price range is seeing a massive struggle with inventory. As coronavirus is dealt with, the presidential election wraps up, and confidence in the market improves we will see those entry-level priced homes begin to come back on the market.

The only problem is that there's so much competitions in Colorado housing that even with more inventory available we will still be in a sellers market due to the sheer number of folks buying homes in CO.