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Breaking Down August Foreclosure Filing Report Data

August 2023’s Foreclosure Market Report, curated by ATTOM Data, showed that there was a total of 33,952 residential real estate properties with foreclosure filings against them, a number that jumped 7% from July but decreased by 2% year-over-year.

A foreclosure filing is defined by ATTOM as a default notice, bank repossession, or scheduled auctions.

Nationally, one in every 4,113 properties had a foreclosure filing against it. In addition, lenders started the foreclosure process on 22,899 U.S. properties in August 2023, up 9% from last month but down 4% from a year ago.

In states that saw the highest foreclosure rates, Nevada, Illinois, and South Carolina were at the top of the list. Nevada had a foreclosure rate of one in every 2,224 units, Illinois (1-in-2,433), South Carolina (1-in-2,506), New Jersey (1-in-2,585), and Delaware (1-in-2,618).

States that saw the greatest monthly increases and had 100 or more foreclosure starts in August 2023 included: Louisiana (up 40 percent); California (up 32 percent); Tennessee (up 32 percent); Alabama (up 30 percent); and Florida (up 28 percent).

Lenders repossessed 3,354 U.S. properties through completed foreclosures (REOs) in August 2023, up 1% from last month but down 15% from last year.

States that had the greatest number of REOs in August 2023, included: Illinois (324 REOs); Pennsylvania (253 REOs); Ohio (250 REOs); New York (205 REOs); and Texas (191 REOs).

Click here to see the report in its entirety.

About Author: Kyle G. Horst

Kyle G. Horst is a reporter for DS News and MReport. A graduate of the University of Texas at Tyler, he has worked for a number of daily, weekly, and monthly publications in South Dakota and Texas. With more than 10 years of experience in community journalism, he has won a number of state, national, and international awards for his writing and photography including best newspaper design by the Associated Press Managing Editors Group and the international iPhone photographer of the year by the iPhone Photography Awards. He most recently worked as editor of Community Impact Newspaper covering a number of Dallas-Ft. Worth communities on a hyperlocal level. Contact Kyle G. at [email protected].

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