Tuesday, May 21, 2024
Hawai'i Free Press

Current Articles | Archives

Monday, August 15, 2022
Foreclosure Rate up 94% in Hawaii
By Selected News Articles @ 4:41 PM :: 1722 Views :: Hawaii Statistics, Cost of Living

How the Foreclosure Rate in Hawaii Compares to the Nation

by Samuel Stebbins, 24/7 Wall St. via The Center Square, Aug 11, 2022

Demand for single-family homes surged in the past two years, as the coronavirus pandemic prompted people to look for more living space. The increased demand, facilitated by low interest rates and coupled with supply constraints, led to soaring home prices. (These are 15 cities with the most overpriced housing markets.)

But now the U.S. housing market appears to be coming back to earth, with some parts of the country showing early distress signs. Foreclosure filings -- a measure of the health of housing markets at local, state, or national levels -- are on the rise across the country.

According to Attom, a curator of land and property data, home foreclosure filings - which include default notices, bank repossessions, and scheduled auctions - are up 153% in the first half of 2022 compared to the same period last year.

In Hawaii, foreclosures rose by 94.1%, from 202 in the first six months of 2021 to 392 in the first half of 2022. The foreclosure rate in the state of one in every 1,431 homes ranks as the 19th lowest in the nation.

According to five-year estimates from the U.S. Census Bureau's 2020 American Community Survey, 64.4% of homeowners in Hawaii are paying down a mortgage, the 18th largest share among states.

The typical household in the state has an income of $83,173 a year, and the typical home is worth $636,400. For context, the typical American household's annual income is $64,994, and the national median home value is $229,800.

 

Rank 32
State Hawaii
Foreclosure rate (foreclosures per housing unit) 1:1,431
Homes in foreclosure, 1st half 2022 392
Homes with a mortgage (%) 64.4
Median home value ($) 636,400

 

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

Aloha Pregnancy Care Center

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii

FIRE

Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Habele.org

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii Military History

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Together

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

July 4 in Hawaii

Land and Power in Hawaii

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

MentalIllnessPolicy.org

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

Natatorium.org

National Parents Org Hawaii

NFIB Hawaii News

NRA-ILA Hawaii

Obookiah

OHA Lies

Opt Out Today

Patients Rights Council Hawaii

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii

RailRipoff.com

Rental by Owner Awareness Assn

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

School Choice in Hawaii

SenatorFong.com

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii