The year 2020 figures to see plenty of homes up for auction on the courthouse steps in Atlanta, according to new findings.
Atlanta has been identified as one of the top cities with home inventories due to foreclosures, according to the ATTOM Data Solutions U.S. Foreclosure Market Report,
Foreclosure filings in the city went up 37% from 2018 to 2019, and there’s no sign it will slow down in the new year.
Atlanta To Be Near Top In Foreclosures In 2020
More than 143,000 U.S. properties had foreclosure filings in the third quarter of 2019, according to the report.
The ATTOM Data Solutions U.S. Foreclosure Market Report says more than 34,000 U.S. properties were foreclosured on (REO) in the third quarter of 2019.
That number constitutes a 6%-increase from the second quarter, but a 33% decrease from the same time a year ago.
Investors looking to find homes will not only have old inventory, but a fair amount of new ones that will flood the market, the numbers show.
Here are some of the other major cities with year-over-year foreclosure increases in 2019:
- Columbus, Ohio — 27%
- San Antonio, Texas — 4%
- Portland, Oregon — 22%
- Tucson, Arizona — 21%
According to Simon Campbell of BankForeclosuresSale.com – an online foreclosure finder – many cities throughout the United States will provide foreclosure investors with sound opportunities in the new year such as Dallas, TX or Atlanta, GA.
“At first glance, it appears that many of the same cities and states that have always struggled with foreclosures will once again be in this position in 2020.” Campbell notes.
“What we’re seeing is that some cities offer great investment opportunities, not just because of the volume of properties but also the value,” Campbell added. “As the first quarter of 2020 comes to an end, we’ll get a better idea of which cities have the most potential for foreclosure investing through the rest of the year.”
Atlanta has one of the best real estate markets in the country, with affordable housing in every quadrant of the city. Large backyards, manicured parcels and strong neighborhoods with ample dining amenities make it one of the top places for transplants.
Keep up with what’s going on in Atlanta’s real estate scene here.
