U.S. Foreclosure Starts Reach Pre-Pandemic Levels
According to ATTOM Data’s August 2022 U.S. Foreclosure Market Report, there were a total of 34,501 U.S. properties with foreclosure filings. This figure is up 14% from one month ago and 118% from the same time period a year ago. In addition, lenders started the foreclosure process on 23,952 U.S. properties in August 2022, up 12% from last month and up 187% from
“Two years after the onset of the COVID-19 pandemic, and after massive government intervention and mortgage industry efforts to prevent defaults, foreclosure starts have almost returned to 2019 levels…August foreclosure starts were at 86 percent of the number of foreclosure starts in August 2019, but it’s important to remember that even then, foreclosure activity was relatively low compared to historical averages.” Said Rick Sharga, executive vice president of market intelligence at ATTOM.