But also serious delinquencies of 3 or more months are on a decline. The principal economist of CoreLogic says “Furthermore, the rate of mortgages that were six months or more past due, a measure that ballooned in 2021, has receded to a level last observed in March 2020.” So while Vegas is high in comparison to the country, the country as a whole is far below normal foreclosure metrics. There isn’t anything on the radar currently showing a path to a big wave of foreclosures. A big job loss recession could change things, but even then most would be doing everything in their power to hold onto that fixed home payment or find a solution outside of foreclosure. Thanks for watching 👍🏼
