US Home Foreclosure Rates Jump in First Half of 2023
Top 10 U.S. Housing Markets with Worst Foreclosure Rates in Q2 2023
ATTOM, a provider of property and real estate data, recently released (7-14-23) its Mid-Year 2023 US Foreclosure Market Report. The report shows that there was a total of 185,580 US properties with foreclosure filings in the first half of 2023. That figure is 13.0% above the same period a year ago and 185% higher than the same period two years ago (first 6-months of 2021).
ATTOM’s latest foreclosure activity analysis reported that the states with the greatest increase in foreclosure activity compared to a year ago in the first half of 2023 included Maryland, up 100%; Oregon, up 99%; Alaska, up 95%; West Virginia, up 83%; and Arkansas, up 72%.
ATTOM’s mid-year 2023 foreclosure analysis also reported that there was a total of 97,608 US properties with a foreclosure filing during 2023Q2, up 2% from Q1 and up 8% year-over-year. Of note, ATTOM reported that properties foreclosed in Q2 had been in the foreclosure process an average of 1,212 days, the highest number of days to foreclose since 2018Q1. According to the report, that figure was up 28% from the previous quarter and up 28% from 2022Q2.
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