Foreclosure Completions Increase 64% Annually in November ’22
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.
Click here to read the full report at ATTOM.
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