Reed Construction Data

Foreclosure notices were sent to 243,353 homes in April according to RealtyTrac. The monthly total will rise as mortgage rate resets peak this summer and overburdened court clerks catch up with their backlog of requested foreclosure notices. But the impact on housing starts will be minimal because virtually all of these homes were already listed for sales and lenders have already reserved funds to cover their share of foreclosure expenses and capital losses.

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