Foreclosure Activity Continues to Increase AnnuallyBy RISMedia Staff
A total of 31,557 U.S. properties had foreclosure filing in January, up 2% from last month and 36% from a year ago, and the 21st consecutive monthly increase, according to a new report from ATTOM.
ATTOM’s U.S. Foreclosure Market Report for January found that lenders repossessed 3,896 properties through completed foreclosures (REOs), up 6% from last month but down 19% from last year–the first annual decrease in completed foreclosures since June 2021. Key highlights:
ATTOM reported that lenders started the foreclosure process on 20,752 properties, down 1% from last month but up 75% from a year ago. The states that saw the greatest number of foreclosure starts were in California (2,513); Texas (2,136); Florida (1,725); New York (1,375); and Illinois (1,309). Additionally, among those major metropolitan statistical areas with a population of at least 200,000, those with the greatest number of foreclosure starts were in New York (1,370); Chicago (1,156); Los Angeles, California (774); Houston, Texas (629); and Philadelphia (612). “The uptick in overall foreclosure filings nationwide points toward a trend that may suggest more increased activity is on the horizon as we enter the new year,” said ATTOM CEO Rob Barber.” While both completed foreclosures and foreclosure starts have stalled slightly over the past month, the annual increase in overall activity seen over the past 21 months may indicate a more substantial trend that could continue into 2023.” For the full report, click here. |
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