The market is not signaling a 2008-style collapse. It is signaling a slower, more segmented cycle: foreclosure activity is rising from suppressed levels, active foreclosure inventory is expanding, and bank repossessions are up year over year.

This quarterly report tracks the conditions shaping distressed property activity, repossession risk, and short-sale demand nationwide. It consolidates data from ATTOM, the Mortgage Bankers Association, ICE Mortgage Technology, and Harvard's Joint Center for Housing Studies.

The key market question is where hardship, loan type, equity position, foreclosure timeline, and ownership costs begin to overlap. That is where short-sale relevance is highest.