IRVINE, Calif. — June 14, 2022 — ATTOM, a leading curator of real estate data nationwide for land and property data, today released its May 2022 U.S. Foreclosure Market Report, which shows there were a total of 30,881 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — up 1 percent from a month ago but up 185 percent from a year ago.
Illinois, New Jersey and Delaware had the highest foreclosure rates
Nationwide one in every 4,549 housing units had a foreclosure filing in May 2022. States with the highest foreclosure rates were Illinois (one in every 2,000 housing units with a foreclosure filing); New Jersey (one in every 2,346 housing units); Delaware (one in every 2,426 housing units); Ohio (one in every 2,667 housing units); and Florida (one in every 2,788 housing units).
“While there’s some volatility in the monthly numbers, foreclosure activity overall is continuing its slow, steady climb back to normal after two years of government intervention led to historically low levels of defaults,” said Rick Sharga, executive vice president of market intelligence at ATTOM. “But with inflation now at a 41-year high, and runaway prices on necessities like food and gasoline, we may see foreclosure activity ramp up a little faster than most forecasts suggest.”