January 2022 US Foreclosure Activity Hits Highest Since Start of COVID-19 Pandemic

irvine, california, February 10, 2022 /PRNewswire/ — ATTOM, the United States’ most comprehensive licensor of foreclosure data and the parent company of RealtyTrac (www.realtytrac.com), the largest online marketplace for foreclosures and distressed properties, was released today. this is January 2022 According to the U.S. Foreclosure Market Report, a total of 23,204 U.S. properties with foreclosure applications (notices of default, scheduled auctions, or bank foreclosures) fell 29% from one month ago and 139% increase.

“The increase in the level of foreclosure activity in January was not surprising,” it said. Rick Sharga, Executive Vice President of RealtyTrac, ATTOM. “Foreclosures typically slow down during the November and December holidays and pick up after the New Year. It was a bit of a dramatic increase in December.”

Foreclosure completions continue to rise
Lenders have repossessed 4,784 US properties through Foreclosure Complete (REO). January 2022up 57% from last month and up 235% from last year – 7th Consecutive months with an annual increase in completed foreclosures.

States with at least 100 REOs and the highest monthly growth January 2022 Included: Michigan (622% increase); Georgia (163% increase); texas (98% increase); Tennessee (50% increase); and Alabama (up 44%).

The following metropolitan statistical areas (MSAs) with populations over 200,000 had the highest number of REOs: Detroit, Michigan (1,013 REOs); Chicago, Illinois (210 REO); new york, new york (129 REO); miami, florida (113 REO); and Philadelphia, Pennsylvania (107 REO).

“Keeping these numbers in context is very important,” Sharga said. “Foreclosure completions remain well below normal levels, less than half of what they were in January 2020, before the pandemic was declared, and about 60% fewer than the number of foreclosure completions in 2019. A big year is likely to follow, with foreclosure activity likely to remain below historically normal levels through the end of 2022, although year-on-year rates will increase for the rest of the year.”

highest foreclosure rate in new jersey, IllinoisWhen Nevada
1 in 5,922 homes nationwide has been filed for foreclosure. January 2022The state with the highest foreclosure rate is new jersey (1 for every 2,336 housing units with foreclosure applications); Illinois (1 in 2,740); Nevada (1 in 3,119 houses); Michigan (1 in 3,127 homes); and Ohio (1 in 3,251).

Among the 220 metropolitan statistical areas with a population of 200,000 or more, the highest foreclosure rates are: January 2022 It was Detroit, Michigan (1 in 1,547 homes with foreclosure applications); Atlantic City, New Jersey (1 in 1,564 units); Cleveland, Ohio (1 in 1,659); Columbia, South Carolina (1 in 1,921); and trenton, new jersey (1 in 2,299 units).

apart from Detroit When clevelandthe area with the worst foreclosure rate among metropolitan areas with a population of over 1 million January 2022 Included: Chicago, Illinois (1 in 2,514 homes); Las Vegas, Nevada (1 in 2,654 homes); miami, florida (1 in 2,731 homes).

Foreclosures start increasing monthly in 33 states, including districts Columbia
Lenders have initiated the foreclosure process on 11,854 US properties. January 2022up 29 percent from last month and 126 percent from a year ago.

The state with the highest number of foreclosures is January 2022 Included: florida (1,238 foreclosures initiated); California (1,226 foreclosures initiated); texas (1,003 foreclosures initiated); Illinois (757 Foreclosure Start); and Ohio (665 Foreclosure Initiation).

Among the 220 metropolitan statistical areas with a population of over 200,000 and over 100 foreclosures: January 2022those with the largest annual increases include: Minneapolis, Minnesota (up 300 percent); Detroit, Michigan (up 298%); San Antonio, Texas (up 291%); jacksonville, florida (up 259%); and miami, florida (up 242%).

Report methodology
The ATTOM US Foreclosure Market report shows the total number of properties with at least one foreclosure application entered into the ATTOM data warehouse during the month and quarter. Some of the foreclosure claims entered into the database during the quarter may have been recorded in the previous quarter. Data are collected from his more than 3,000 counties nationwide, which make up more than 99% of his population in the United States. ATTOM’s report incorporates documents filed at all three stages of foreclosure. Auctions — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); Property Owned or REO Property (foreclosed and repurchased by bank). For annual, mid-year, and quarterly reports, if multiple types of foreclosure documents were received for a single property during the period, only the most recent submission will be included in the report. Annual, interim, quarterly, and monthly reports all check to see if the same type of document has been previously filed against the property. If so, and if the previous filing was within the estimated foreclosure period for the state in which the property is located, the report will not count the property for the current year, quarter, or month.

Want to learn more about pre-foreclosure and foreclosure data?

For more information on seized data licenses, please contact ATTOM.
Visit RealtyTrac.com for foreclosure searches and listings.

About Atom
ATTOM provides foreclosure data licenses that empower a variety of corporate industries including real estate, insurance, marketing, government and mortgages. ATTOM draws on more than 155 million U.S. residential and commercial properties, covering 99% of the U.S. population, from 3,000 counties’ property tax, deed, mortgage, environmental risk, natural disaster, and neighborhood data. getting the source.

About RealtyTrac (Powered by ATTOM’s Property Data)
RealtyTrac.com is the largest online marketplace for foreclosures and distressed properties, helping individual investors and real estate agents to gain a competitive edge in the distressed market. Realtytrac.com enables real estate professionals to find, analyze and invest in residential real estate.

Media contact:
Christine Stricker
[email protected]

Data and Reporting License:
[email protected]

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