Real Estate From The Trenches

U.S. Foreclosures Climb Again: April Sees 14% Annual Jump

May 15, 2025

After declining sharply during the pandemic, foreclosure activity in the U.S. is continuing its slow but steady return to pre-COVID levels. According to ATTOM’s newly released April 2025 U.S. Foreclosure Market Report, foreclosure filings, including default notices, scheduled auctions, and bank repossessions, hit 36,033 nationwide last month. That’s a slight 0.4% uptick from March, but a more notable 13.9% increase from a year ago.

While that number still doesn’t come close to the monthly volumes we saw during the Great Recession, it’s the direction, and persistence, of the trend that’s worth watching. Rob Barber, CEO of ATTOM, summed it up plainly: “April’s foreclosure activity continued its gradual climb, with both starts and completions up annually… the year-over-year increases may suggest that some homeowners are beginning to feel the effects of persistent economic pressures”.

The Most (and Least) Affordable States for Homebuyers

May 7, 2025

Most and least affordable states for housing

Housing affordability isn’t what it used to be—no surprise there. But according to a new analysis from Realtor.com, some states are still holding their own when it comes to the balance between home prices, income, and new construction. And a few names at the top of the list may surprise you.

South Carolina snagged the top spot as the most affordable state in the country, earning an overall “A” with a relatively low median price ($354,429), reasonable income-to-price ratio, and—here’s the kicker—a negative new construction premium. That means new homes there are actually selling for less than existing ones, which is about as rare as a stress-free appraisal these days.

Report Warns Private Listings Undermine Competition — DOJ Urged to Step In

April 16, 2025

Private listing networks are once again under the spotlight, this time drawing fire from consumer advocates who say the practice restricts market access and tilts the playing field in favor of large brokerages. In an April 14 statement, the Consumer Policy Center (CPC) called on the U.S. Department of Justice to investigate how these networks — often referred to as “office exclusives” — may be enabling anticompetitive behavior. The CPC highlighted Compass specifically, citing its push to privately market listings early and selectively, in ways that may reduce competition and limit consumer choice.

According to the CPC report, Compass has made clear its intent to market new listings aggressively and without restraint while still maintaining access to the major real estate portals — like Zillow, Redfin, and Realtor.com — if a buyer isn’t found through its internal network. The report describes a concerning pattern where listings are publicly marketed through signs, emails, or social media, yet withheld from the MLS. Experts cited in the report say this creates a two-tier system: listings are first offered to in-house agents or select brokers, and only later — if needed — opened up to the wider marketplace. The CPC argues that this limits transparency and could lower sale prices by reducing the pool of potential buyers.

New Study Highlights Best and Worst States for Young Homeowners

April 3, 2025

According to a new study released today by Chandan Economics, analyzing data from the US Census Bureau’s American Community Survey, Texas, California, and Florida lead the nation with the highest numbers of homeowners under the age of 35. However, the states boasting the largest proportions of young homeowners, relative to their total housing market, offer more intriguing insights into first-time homebuyer trends. Topping this list are Utah, Alaska, and Iowa, where young adults under 35 represent over 10% of all homeowner households, indicating lower barriers to entry for younger buyers.

Interestingly, states with thriving job markets and higher average wages—such as Washington D.C., California, and New York—rank lowest for under-35 homeowner density. Despite higher earning opportunities, young professionals in these regions often opt for renting over homeownership due to prohibitive costs. These findings underscore the ongoing balance younger households must strike between career opportunities and achievable homeownership, particularly in high-cost, economically vibrant regions (See charts below).