Who Were REO Auction Buyers in 2021?

According to Auction.com’s Daren Blomquist, most REO auction buyers in 2021 were owner-occupants or local community developers. Of those buyers, 99%purchased five or fewer properties with74% of those properties being located within 100 miles of where they live. The U.S. states with the highest share of owner-occupant REO auction buyers in 2021 were Idaho (43%), Hawaii (25%), Maine (23%), New Mexico (22%), and Washington (21%). The top three states in terms of sold REO auction volume in 2021 all posted owner-occupancy rates above the national average: Illinois (15%), New York (17%), and Florida (17%). Continue reading HERE...