What Percentage of Homes Do You Think Are Foreclosures?
On April 15, 2008, due to the number of buyers requesting "foreclosures" or "bank-owned" homes for sale, we felt it was important to start tracking the impact of foreclosures in our marketplace. Our goal was to see what percentage of homes currently on the market were actually foreclosures. What started out as basic information has turned out to be very valuable data, not only for our clients but also our agents. It has allowed us to better educate our buyers and sellers on what's really happening here in Macomb County.
We have continued to run these numbers weekly since then and have compiled a snapshot of August for the past 4 years below.