According to ATTOM Data’s latest U.S. Foreclosure Market Report, properties with a foreclosure filing during Q1 2022 were up 39% from the previous quarter and up 132% from a year ago. In addition, ATTOM says there were a total of 33,333 U.S. properties with foreclosure filings in March 2022, up 29% from February and up 181% from a year ago – which they say is the 11th consecutive month with a year-over-year increase in foreclosure activity. States with the greatest number of foreclosures starts in Q1 2022 included, California (5,378), Florida (4.707), Texas (4,649), Illinois (3,534), and Ohio (3,136).
“…even with the large year-over-year increase in foreclosure starts and bank repossessions, foreclosure activity is still only running at about 57% of where it was in Q1 2020, the last quarter before the government enacted consumer protection programs due to the pandemic.” Said Rick Sharga, executive vice president of market intelligence for ATTOM.
Click here to read the full report at ATTOM.