According to ATTOM Data’s latest U.S. Foreclosure Market Report, there were 30,677 U.S. properties with foreclosure filings (default notices, scheduled auctions or bank repossessions). This figure was up 57% from one year ago but down 5% from October. In addition, they report that REOs represented 3,770 U.S. properties in November, 2022, down 9% from October but up 64% from on year ago. States with the the most REOs in November included: Illinois (343), New York (313), Pennsylvania (220), Michigan (210), and Ohio (208).
“We may be at or near a peak level of foreclosure activity for 2022…While foreclosure starts and foreclosure completions both increased compared to last year’s artificially low levels, they declined from last month, and lenders often put a moratorium on foreclosures during the holiday season.” Said Rick Sharga, executive vice president of market intelligence at ATTOM.