🚨 5 Cities Where Sellers Are Losing Leverage
Foreclosures are rising, contracts are breaking, and builders are pulling back in the markets that ran hottest.
Distress, broken deals, and builder pullbacks are starting to overlap.
Foreclosure filings eased from April but are still 14% higher than last year, led by Florida, South Carolina, Maryland, Nevada, and Indiana, with FHA borrowers driving most of the new mortgage stress.
The same former boom markets are showing up again on the other side of the deal.
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In Atlanta, Fort Worth, and Jacksonville, sellers now outnumber buyers by 60% to 70% or more, and roughly 1 in 5 contracts is falling apart before closing.
Builders are reading the room too, with single-family starts at an eight-month low and overall construction down to a six-year low.
Here’s where these threads are starting to point to the next pockets of opportunity:
🏚️ Foreclosures Rise 14% Yearly
⚠️ FHA Distress Drives Delinquencies
🚪 Boom Markets Lead Canceled Deals
🏗️ Single-Family Starts Hit 8-Month Low
🏢 Multifamily Starts Plunge 40%
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Foreclosure Rates Remain Elevated by State
Foreclosure filings eased from April but remained 14% higher than last year, with Florida, South Carolina, Maryland, Nevada, and Indiana showing where distress is most concentrated.
FHA Borrowers Drive New Mortgage Stress
National delinquencies are still below pre-pandemic levels, but serious FHA delinquencies are rising sharply and now account for most of the new borrower distress.
Former Boom Markets See Deals Fall Apart
Atlanta, Fort Worth, Jacksonville, San Antonio, and Orlando now lead the country in canceled contracts as buyer leverage grows and sellers struggle to keep deals together.
Single-Family Starts Hit an Eight-Month Low
Builders are pulling back as high rates, weak demand, elevated inventory, and rising construction costs pressure new-home markets, especially in the South and West.
Apartment and condo construction plunged in May as financing costs, insurance pressure, and economic uncertainty forced developers to slow new projects.
Video of the week