March Marks 23rd Consecutive Month of Foreclosure UptickBy Jordan Grice
Despite being nearly two years removed from the end of the U.S. foreclosure moratorium, the upward trajectory of foreclosure activity has held firm well into 2023, according to recent reports by ATTOM Data Solutions.
The organization released its Q1 2023 U.S. Foreclosure Market Report, which shows 95,712 U.S. properties with foreclosure filings during the first three months of 2023. That data marks a 6% increase from the previous quarter and a 22% annual increase. The report also notes that 36,617 U.S. properties with foreclosure filings in March 2023, up 20% from the previous month and 10% from a year ago. According to ATTOM, March marks the 23rd consecutive month of YoY increase in U.S. foreclosure activity. Key Highlights
"Despite efforts made by government agencies and policymakers to try and reduce foreclosure rates, we are seeing an upward trend in foreclosure activity," said Rob Barber, chief executive officer at ATTOM. "This unfortunate trend can be attributed to a variety of factors, such as rising unemployment rates, foreclosure filings making their way through the pipeline after two years of government intervention, and other ongoing economic challenges. However, with many homeowners still having significant home equity, that may help in keeping increased levels of foreclosure activity at bay." Jordan Grice is a senior editor for RISMedia. |
Today's Top Stories |