Demand for single-family homes has surged over the past two years as the coronavirus pandemic pushed people to seek more living space. Increased demand driven by low interest rates, combined with supply constraints, led to higher house prices. (These are the 15 cities with the highest house prices.)
But now the US housing market appears to be on the mend, with early signs of distress in parts of the country. Foreclosure filings, a measure of the health of the housing market at the local, state, or national level, are on the rise nationwide.
Home foreclosure applications (including default notices, bank foreclosures and scheduled auctions) increased 153% in the first half of 2022 compared to the same period last year, according to Attom, a curator of land and property data. I’m here.
Foreclosures increased 187.3% in Texas from 4,012 in the first half of 2021 to 11,527 in the first half of 2022. The state’s foreclosure rate of 1 in 1,005 homes ranks him 19th highest in the nation.
According to the U.S. Census Bureau’s 2020 American Community Survey five-year estimate, 56.8% of Texas homeowners are paying off their mortgages, the 12th lowest rate among states.
Annual income for a typical household in the state is $63,826 and a typical home value is $187,200. For context, the typical American household has an annual income of $64,994 and the national median home price is $229,800.
| rank | state | Foreclosure rate (foreclosures per residential unit) | Homes Under Foreclosure, 1H 2022 | Housing with Mortgage (%) | Median house price ($) |
|---|---|---|---|---|---|
| 1 | Illinois | 1:385 | 14,086 | 62.8 | 202,100 |
| 2 | new jersey | 1:410 | 9,177 | 66.0 | 343,500 |
| 3 | Ohio | 1:475 | 11,028 | 62.4 | 151,400 |
| Four | Delaware | 1:497 | 903 | 64.7 | 258,300 |
| Five | south carolina | 1:513 | 4,568 | 57.7 | 170,100 |
| 6 | Florida | 1:560 | 17,624 | 56.7 | 232,000 |
| 7 | Nevada | 1:567 | 2,259 | 67.5 | 290,200 |
| 8 | Indiana | 1:606 | 4,822 | 65.2 | 148,900 |
| 9 | Georgia | 1:770 | 5,731 | 64.5 | 190,200 |
| Ten | Michigan | 1:773 | 5,913 | 59.6 | 162,600 |
| 11 | connecticut | 1:773 | 1,979 people | 67.4 | 279,700 |
| 12 | Oklahoma | 1:824 | 2,120 | 54.5 | 142,400 |
| 13 | Maryland | 1:863 | 2,934 | 72.5 | 325,400 |
| 14 | California | 1:881 | 16,340 | 69.5 | 538,500 |
| 15 | Iowa | 1:899 | 1,571 | 60.4 | 153,900 |
| 16 | Alabama | 1:925 | 2,475 | 55.7 | 149,600 |
| 17 | north carolina | 1:958 | 4,917 | 62.5 | 182,100 |
| 18 | Arizona | 1:961 | 3,207 | 63.3 | 242,000 |
| 19 | texas | 1:1,005 | 11,527 | 56.8 | 187,200 |
| 20 | pennsylvania | 1:1,038 | 5,531 | 59.9 | 187,500 |
| twenty one | maine | 1:1,050 | 704 | 60.7 | 198,000 |
| twenty two | Colorado | 1:1,073 | 2,322 | 70.8 | 369,900 |
| twenty three | Missouri | 1:1,073 | 2,596 | 61.2 | 163,600 |
| twenty four | New York | 1:1,106 | 7,673 | 59.9 | 325,000 |
| twenty five | Louisiana | 1:1,107 | 1,873 | 52.0 | 168,100 |
| 26 | Utah | 1:1,127 | 1,022 people | 70.1 | 305,400 |
| 27 | Minnesota | 1:1,169 | 2,126 | 66.0 | 235,700 |
| 28 | Virginia | 1:1,212 | 2,985 | 68.2 | 282,800 |
| 29 | new mexico | 1:1,225 | 768 | 53.4 | 175,700 |
| 30 | wyoming | 1:1,394 | 195 | 58.1 | 228,000 |
| 31 | Mississippi | 1:1,397 | 945 | 50.0 | 125,500 |
| 32 | Hawaii | 1:1,431 | 392 | 64.4 | 636,400 |
| 33 | Nebraska | 1:1,443 | 585 | 59.4 | 164,000 |
| 34 | Wisconsin | 1:1,503 | 1,815 | 63.3 | 189,200 |
| 35 | Tennessee | 1:1,528 | 1,984 people | 59.0 | 177,600 |
| 36 | Massachusetts | 1:1,535 | 1,954 people | 68.5 | 398,800 |
| 37 | rhode island | 1:1,560 | 310 | 67.9 | 276,600 |
| 38 | new hampshire | 1:1,593 | 401 | 65.0 | 272,300 |
| 39 | Arkansas | 1:1,715 | 796 | 54.2 | 133,600 |
| 40 | Alaska | 1:1,985 | 160 | 61.9 | 275,600 |
| 41 | Washington | 1:2,400 | 1,334 | 68.2 | 366,800 |
| 42 | kentucky | 1:2,432 | 820 | 57.2 | 147,100 |
| 43 | Idaho | 1:2,473 | 304 | 64.1 | 235,600 |
| 44 | Montana | 1:2,654 | 194 | 56.0 | 244,900 |
| 45 | Oregon | 1:2,782 | 652 | 66.1 | 336,700 |
| 46 | Kansas | 1:2,810 | 454 | 58.6 | 157,600 |
| 47 | west virginia | 1:3,626 | 236 | 46.7 | 123,200 |
| 48 | north dakota | 1:4,466 | 83 | 53.2 | 199,900 |
| 49 | Vermont | 1:7,598 | 44 | 62.4 | 230,900 |
| 50 | south dakota | 1:9,068 | 43 | 55.0 | 174,600 |