Chattanooga foreclosures drop 26.8 percent in 2017
The number of foreclosure filings on properties in the six-county Chattanooga metropolitan area dropped 26.8 percent in the first half of 2017, according to ATTOM Data Solutions, the nation’s largest multi-source property database.
The rate of foreclosure in Chattanooga during the first six months of the year was 0.248 percent, which ranked 133rd among the nation’s 217 biggest metropolitan areas.
Nationwide, property foreclosure notices, which include default notices, scheduled auctions and bank repossessions, were down 20 percent so far in 2017 compared with a year ago.
“With a few local market exceptions, foreclosures have become the unicorns of the housing market: hard to find but highly sought after,” said Daren Blomquist, senior vice president with ATTOM Data Solutions. “More than 38 percent of properties sold at foreclosure auction in the first half of this year went to third-party buyers rather than back to the bank – the highest share we’ve ever seen going back as far as 2000, the earliest this data is available.”