According to their Q2 2021 U.S. Foreclosure Market Report, ATTOM Data says, foreclosure starts increased 27% from August with completed foreclosures increasing 22% from one year ago. According to data, there were a total of 15,838 U.S. properties with foreclosure filings (default notices, scheduled auctions or bank repossessions) – which comes down to one in every 8,677 housing units having a foreclosure filing in August 2021. These numbers reflect the first month since the government’s moratorium has lifted. The states with the highest foreclosure rates were Illinois, Nevada, Delaware, and Ohio.
“As expected, foreclosure activity increased as the government’s foreclosure moratorium expired, but this doesn’t mean we should expect to see a flood of distressed properties coming to market…We’ll continue to see foreclosure activity increase over the next three months as loans that were in default prior to the moratorium re-enter the foreclosure pipeline, and states begin to catch up on months of foreclosure filings that simply haven’t been processed during the pandemic. But it’s likely that foreclosures will remain below normal levels at least through the end of the year.” Said Rick Sharga, Executive Vice President at RealtyTrac, an ATTOM company.