Increased Foreclosure Activity in First Six Months of 2022 Approaches Pre-Covid Levels

Published by Attom Data | July 14, 2022

U.S. Foreclosure Starts up 219 Percent in First Six Months of 2022; 96 Percent of Major Metro Areas Saw an Annual Increase in Foreclosure Filings; Foreclosure Rates Highest in Illinois, New Jersey, and Ohio

ATTOM, a leading curator of real estate data nationwide for land and property data, today released its Midyear 2022 U.S. Foreclosure Market Report, which shows there were a total of 164,581 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — in the first six months of 2022. That figure is up 153 percent from the same time period a year ago but down just one percent from the same time period two years ago.

“Foreclosure activity across the United States continued its slow, steady climb back to pre-pandemic levels in the first half of 2022. While overall foreclosure activity is still running significantly below historic averages, the dramatic increase in foreclosure starts suggests that we may be back to normal levels by sometime in early 2023.”

–Rick Sharga, EVP of Market Intelligence at ATTOM

Bucking the national trend with decreasing foreclosure activity compared to a year ago in the nation’s most populated metros during the first half of 2022, were only 7 of the 223 metro areas analyzed. Those metros included Lake Havasu, Arizona (down 47 percent); Eugene, Oregon (down 27 percent); Springfield, Illinois (down 19 percent); Shreveport, Louisiana (down 9 percent); and Brownsville, Texas (down 8 percent).

Nationwide 0.12 percent of all housing units (one in every 854) had a foreclosure filing in the first half of 2022.

States with the highest foreclosure rates in the first half of 2022 were Illinois (0.26 percent of housing units with a foreclosure filing); New Jersey (0.24 percent); Ohio (0.21 percent); Delaware (0.20 percent); and South Carolina (0.19 percent).

Other states with first-half foreclosure rates among the 10 highest nationwide, were Florida (0.18 percent); Nevada (0.18 percent); Indiana (0.16 percent); Georgia (0.13 percent); and Michigan (0.13 percent).

Continue Reading

Powered by WishList Member - Membership Software

Scroll to Top
Malcare WordPress Security