spot_img

Foreclosures and Home Repossessions Are on the Rise

Date:

spot_img

(AURN News) – A new report from real estate data firm ATTOM Data Solutions shows foreclosure activity is on the rise across the United States. According to ATTOM, foreclosures were up 3% in the first quarter of 2024 compared to the previous quarter. While foreclosure levels remain less than 1% lower than a year ago, the report indicates a troubling trend.

The ATTOM data also found that bank repossessions, a key indicator of completed foreclosures, were up 7% in March 2024 compared to the previous month. Several states saw significantly higher foreclosure rates last month, led by Illinois, Connecticut, New Jersey, Florida, and South Carolina.

The rise in foreclosures comes as the Federal Reserve is set to make another decision soon on interest rates. So far, the Fed has held rates for the past couple of months. Their next meeting is scheduled to start on April 30.


Click play to listen to the AURN News report from Jamie Jackson:

The post Foreclosures and Home Repossessions Are on the Rise appeared first on American Urban Radio Networks.

Read the Black Chronicle Black History Edition for Free! Click Below

Read the Black Chronicle Black History Edition for Free! Click Below

spot_img
spot_img

Subscribe

Share post:

Popular

More like this
Related

Lawsuit Alleges Racial Discrimination by American Airlines After Black Passengers Removed from Flight

According to CNN, a lawsuit filed Wednesday on behalf...

Spokane approves raises for elected officials despite potential reductions

(The Center Square) – Despite a request to prepare...

Report: 1 in 6 Texans live or work in known flood hazard areas

(The Center Square) – Roughly one in six Texans,...

Tennessee severe risk domestic violence GPS tracking law starts July 1

(The Center Square) – A new Tennessee law will...