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.