Top Metros With the Most Foreclosure Starts in Q1 2023
According to the ATTOM Data’s Q1 2023 U.S. Foreclosure Market Report, there were 95,712 U.S. properties with a foreclosure filings during Q1 of 2023 – up 6% from the Q4 2022 and up 22% from one year ago. In addition, the report also shows a total of 36,617 U.S. properties with foreclosure filings in March 2023, up 20% from February and up 10% from one year ago — marking the 23rd consecutive month with a year-over-year increases foreclosure activity.
“Despite efforts made by government agencies and policy makers to try and reduce foreclosure rates, we are seeing an upward trend in foreclosure activity…This unfortunate trend can be attributed to a variety of factors, such as rising unemployment rates, foreclosure filings making their way through the pipeline after two years of government intervention, and other ongoing economic challenges…” said Rob Barber, chief executive officer at ATTOM. “
Source: National REIA
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