Webinar: The Coronavirus Impact on the Distressed Market

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Click here to listen to this webinar featuring exclusive insight from ATTOM Data Solutions Chief Product and Technology Officer, Todd Teta, and Haus Chief Economist and Senior Vice President of Analytics, Ralph McLaughlin, as they dive into the distressed housing market and what to expect to see in the coming months amid the Coronavirus pandemic.

This webinar offers a detailed review of ATTOM’s Q2 2020 Special Report highlighting the U.S. housing markets more or less vulnerable to the pandemic, as well as foreclosure forecasting and the long-term effects on prices, rates and mortgage volumes, along with other key data points driving the decisions impacting the housing market.

ATTOM, the one-stop shop for premium property data fueling innovation, has been closely monitoring the key indicators associated with the current housing landscape since the onset of the pandemic, including home affordability, mortgages in distress and foreclosure filings. ATTOM is in a unique position to offer an exclusive analysis of the housing data and implications for the distressed market.

ATTOM’s robust and comprehensive property data provides actional real estate data and analytics to fuel growth, improve operational efficiencies and power innovation across a wide range of industries. Our datasets are utilized not only to create innovation but to gain a competitive advantage and deliver valuable insight.

Haus, a co-investing alternative to homeownership, has a finger on the pulse of homeownership given their unique ability to offer homeowners options to buy and sell home shares at any time. Haus is also uniquely positioned to offer exclusive distressed market insight, given the company’s focus and industry knowledge required to be able to discern options for homeowners to defer payments during times of financial distress in exchange for home shares.

Unlike a bank or lender, Haus is a co-investor. Instead of borrowing from a bank, you partner with Haus. As co-investors, Haus invests in your home with you. With incentives aligned, you get access to the equity you’ve built right now, and in exchange you share some of your equity. Haus is designed for homeowners who want to live more flexibly with instant access to their equity and lower monthly payments, compared to a mortgage.

In this webinar, Todd pinpoints the pockets of housing markets around the country, mainly along the East Coast and northeastern Illinois, that have emerged as more at risk from damage connected to the pandemic. He also identifies the areas found in the Midwest and West that appear better positioned to be less impacted.

Todd cites ATTOM’s latest home affordability report and describes that in roughly two-thirds of western counties, there was an increase in the percentage of average local wages needed to afford major home ownership costs. Todd also cites ATTOM’s latest foreclosure market report, noting that foreclosure activity trends were more mixed, but the West had the smallest percent of counties with rising rates in the first quarter.

Todd also notes that according to ATTOM’s internal forecasts, an annual increase of 69-115% in foreclosure filings is more than expected over the next 18 months, and counts will be driven more by unemployment than forbearances, but timing will also be a factor. Todd expects to see this process play out starting in late Q3 2020.

Also, during this webinar, Ralph examines the likeliness of foreclosures rising in 2021, and the subsequent result of home prices falling, according to Haus forecasting through 2025. Ralph also illustrates that purchase activity will likely fall below normal until 2021, and low rates and loan restructuring will drive refinances, based on forecasting by Haus.

Want to take see learn more about where the distressed market is heading amid the Coronavirus pandemic?

Click here to listen to the entire webinar.

Please contact us if you have questions about the underlying data referenced in this article, or would like to have access to that data in the form of custom reports, API, Bulk File or DaaS.

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