According to ATTOM Data’s Q3 2022 U.S. Foreclosure Market Report, showing there were 92,634 U.S. properties with foreclosure filings (default notices, scheduled auctions or bank repossessions). This figure was up 3% from Q2 and up 104% from one year ago. In addition, ATTOM says lenders repossessed 10,515 U.S. properties (REO) in Q3 2022, up 18% from the previous quarter and up 39% from a year ago.
Some key takeaways:
- Nationwide in September 2022 one in every 4,413 properties had a foreclosure filing.
- States with the highest foreclosure rates in September 2022 were Illinois (one in every 1,959 housing units with a foreclosure filing); Nevada (one in every 2,473 housing units); New Jersey (one in every 2,649 housing units); Maryland (one in every 2,825 housing units); and Ohio (one in every 2,885 housing units).
- 21,869 U.S. properties started the foreclosure process in September 2022, down 9% from the previous month but up 113% from a year ago.
“Foreclosure starts, while rising since the end of the government’s foreclosure moratorium, still lag behind pre-pandemic levels…” Said Rick Sharga, executive vice president of market intelligence for ATTOM.
Click here to read the full report at ATTOM.
