US Foreclosure Activity to Increase Slightly in May 2022

Foreclosure starts fell 1 percent from last month, While completed foreclosures increase by 1%

irvine, california, June 14, 2022 /PRNewswire/ — ATTOM, the leading curator of real estate data for national land and property data, today announced that May 2022 A total of 30,881 U.S. properties with foreclosure claims (notices of default, scheduled auctions, or bank foreclosures) increased 1% from a month ago, according to the U.S. Foreclosure Market Report. is up 185% from a year ago.

Illinois, new jersey When Delaware had the highest foreclosure rate

1 in 4,549 homes nationwide has been filed for foreclosure. May 2022The state with the highest foreclosure rate is Illinois (1 in 2,000 homes with foreclosure applications); new jersey (1 in 2,346); Delaware (1 in 2,426); Ohio (1 in 2,667); and florida (1 in 2,788 units).

“Despite some fluctuations in monthly numbers, overall foreclosure activity is slowly and steadily returning to normal after two years of government intervention led to historically low levels of defaults,” it said. . Rick Sharga, ATTOM’s Executive Vice President of Market Intelligence. “However, with inflation currently at a 41-year high and prices of essentials such as food and gasoline soaring, foreclosure activity could rise a little faster than most forecasts suggest. .”

Among the 223 metropolitan statistical districts with a population of 200,000 or more, the highest foreclosure rates are: May 2022 It was Jacksonville, North Carolina (1 out of 1,052 homes with foreclosure applications); Cleveland, Ohio (1 in 1,389); Chicago, Illinois (1 in 1,777 units); Fayetteville, North Carolina (1 in 1,823); and rockford, illinois (1 in 1,861 units).

Worst foreclosure rates in metropolitan areas of over 1 million people May 2022 include Cleveland, Ohio When Chicago, Illinois It was: jacksonville, florida (1 in 1,985); orlando, florida (1 in 2,295 homes); and miami, florida (1 in 2,432 homes).

florida, California When texas Foreclosure initiation was highest

Lenders have initiated the foreclosure process on 22,099 US properties. May 2022down 1% from last month, but up 274% from a year ago.

States with the highest number of foreclosure initiations May 2022 Included: florida (2,483 foreclosures initiated); California (2,238 foreclosures initiated); texas (2,019 foreclosures started); Illinois (1,757 foreclosures initiated); and Ohio (1,285 foreclosures initiated).

metropolitan areas with more than one million inhabitants and at least 100 foreclosures, May 2022 Increases from last month include: miami, florida (81% increase); washington dc (60% increase); Birmingham, Alabama (56% increase); Cincinnati, Ohio (54% increase); and jacksonville, florida (up 54%).

“It is interesting to note that there were almost ten times more foreclosures initiated than foreclosures completed,” Sharga added. “This suggests that financially distressed borrowers may be finding ways to avoid losing their homes in foreclosure sales.”

Foreclosure completions up 1% from last month

Lenders have repossessed 2,857 US properties through 2,857 Foreclosure Completed (REOs). May 2022up 1% from last month and 117% from last year.

States with the most REOs May 2022included: Illinois (350 REO); Michigan (249 REO); pennsylvania (226 REO); new jersey (175 REO); and Ohio (146 REO).

Major Metropolitan Statistical Areas (MSAs) with more than 1 million inhabitants with the highest number of REOs May 2022 Included: Chicago, Illinois (289 REO); new york, new york (133 REO); Detroit, Michigan (124 REO); Philadelphia, Pennsylvania (98 REO); and Pittsburgh, Pennsylvania (79 REO).

How to report

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. Default — Notice of Default (NOD) and Lis Pendens (LIS); auction — 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.

About Atom

ATTOM provides premium real estate data to power products that improve transparency, innovation, efficiency and disruption in the data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural disaster, and neighborhood data for over 155 million U.S. residential and commercial properties covering 99% of the U.S. population It has turned into. A rigorous data management process involving more than 20 steps validates, standardizes and enriches property data collected by ATTOM, assigning a permanent and unique ID (ATTOM ID) to each property record. The 20 TB ATTOM data warehouse serves many industries including mortgages, real estate, insurance, marketing, and government through flexible data delivery solutions including bulk file licensing, real estate data APIs, real estate market trends, real estate reports, and more. Promote innovation. It also introduces ATTOM Cloud, the latest innovative solution that provides instant access and streamlines data management.

Media contact:
Christine Stricker
[email protected]

Data and Reporting License:
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