"August marked the sixth consecutive month of year-over-year increases in U.S. foreclosure activity and the third straight month with double-digit annual growth, said Rob Barber, CEO of ATTOM. While overall levels remain below those seen before the pandemic, the ongoing rise in both foreclosure starts and completions suggests that some homeowners may be experiencing added financial strain in the current high-cost and high-interest-rate environment."
"Lenders started foreclosure proceedings on 24,254 properties in August a slight decrease from July but up 17% from last year. The states with the most foreclosure starts were Texas (2,982), Florida (2,803), California (2,558), New York (1,207), and Illinois (1,170). Among large metro areas, New York led with 1,431 starts, followed by Houston (1,178), Chicago (1,009), Los Angeles (862), and Miami (748)."
Foreclosure activity in the U.S. rose year-over-year for the sixth consecutive month in August, with the third straight month of double-digit annual growth. Foreclosure starts and repossessions increased despite overall levels remaining below pre-pandemic figures, reflecting homeowner strain from high costs and elevated interest rates. Nationwide, one in 3,987 housing units had a foreclosure filing. Nevada, South Carolina, and Florida had the highest state rates. Lenders initiated foreclosure on 24,254 properties in August, up 17% from a year earlier. Completed foreclosures totaled 4,077 homes, a 41% increase year over year, with Texas and California leading repossessions.
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