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According to ATTOM’s just released Q3 2022 U.S. Foreclosure Market Report, there were a total of 92,634 U.S. properties with foreclosure filings in the third quarter of this year. That figure is up 3 percent from the previous quarter and 104 percent from a year ago.

ATTOM’s latest foreclosure activity analysis also shows there were a total of 31,836 U.S. properties with foreclosure filings in September 2022. That figure is down 8 percent from the previous month but up 62 percent from September 2021.

The report noted that lenders started the foreclosure process on 67,249 U.S. properties in Q3 2022. That figure is up 1 percent from the previous quarter and up 167 percent from a year ago — nearly reaching pre-pandemic levels.

ATTOM’s Q3 analysis found that states that posted the greatest number of foreclosure starts included California (7,368 foreclosure starts); Florida (6,671 foreclosure starts); Texas (6,217 foreclosure starts); Illinois (4,702 foreclosure starts); and New York (3,997 foreclosure starts).

Also according to the report, among the 223 metro areas analyzed, those that posted the greatest number of foreclosure starts in Q3 2022, included New York, New York (4,621 foreclosure starts); Chicago, Illinois (3,950 foreclosure starts); Los Angeles, California (2,275 foreclosure starts); Philadelphia, Pennsylvania (1,991 foreclosure starts); and Miami, Florida (1,990 foreclosure starts).

The report also states that in September 2022, 21,869 U.S. properties started the foreclosure process. That figure was down 9 percent from the previous month but up 113 percent from a year ago.

In this post, we dive into the data behind the latest ATTOM foreclosure report to reveal those top states and metro areas with the greatest number of foreclosure starts in September 2022:

States

State FC Starts – Sept 2022
California                              2,196
Florida                              2,193
Texas                              1,756
Illinois                              1,681
New York                              1,418
Michigan                              1,307
Ohio                              1,126
New Jersey                                 935
Georgia                                 895
Pennsylvania                                 623

Metros

MSA FC Starts – Sept 2022
New York-Newark-Jersey City, NY-NJ-PA                              1,536
Chicago-Naperville-Elgin, IL-IN-WI                              1,417
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD                                 755
Miami-Fort Lauderdale-West Palm Beach, FL                                 687
Los Angeles-Long Beach-Anaheim, CA                                 666
Detroit-Warren-Dearborn, MI                                 591
Houston-The Woodlands-Sugar Land, TX                                 549
Atlanta-Sandy Springs-Roswell, GA                                 521
Washington-Arlington-Alexandria, DC-VA-MD-WV                                 363
Riverside-San Bernardino-Ontario, CA                                 357

ATTOM’s Q3 2022 foreclosure report also noted that lenders repossessed 10,515 U.S. properties through foreclosure (REO) in Q3 2022. That figure is up 18 percent from the previous quarter and up 39 percent from a year ago.

The analysis found that states that posted the largest number of completed foreclosures in Q3 2022 included Illinois (1,331 REOs); Michigan (729 REOs); New York (695 REOs); Pennsylvania (643 REOs); and Ohio (557 REOs).

Also according to the report, in September 2022, Lenders completed the foreclosure process on 3,509 U.S. properties in September 2022. That figure is down 11 percent from the previous month but up 31 percent from a year ago.

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