In a striking trend, profit margins slipped to their lowest point since 2009.
Tagged: ATTOM
New Jersey, Illinois, and inland California had the highest concentrations of the most at-risk markets in the first quarter.
Rose 1% in May from April as activity continues steady climb toward normal.
Only bright spot in the segment was home equity loans, which grew 28% annually.
According to ATTOM, 44.9% of US mortgaged residential properties considered equity-rich
Houses are less affordable in nearly 80% of all U.S. counties.
Gross profit margins on home flips in 2021 sank to their lowest level in more than a decade, after dropping at the fastest pace in more than 15 years.
Also up 11% from last month
Overall lending activity down 11%.
Vacant properties are inching downward in the first quarter of 2022, while foreclosure starts have surged sevenfold in January.