According to ATTOM’s just released April 2023 U.S. Foreclosure Market Report, there were a total of 32,977 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — down 10 percent from March 2023 but up 8 percent from April 2022.
ATTOM’s latest foreclosure activity analysis reported that nationwide one in every 4,234 housing units had a foreclosure filing in April 2023. The report noted that states with the highest foreclosure rates included Illinois (one in every 2,221 housing units with a foreclosure filing); Maryland (one in every 2,283 housing units); New Jersey (one in every 2,334 housing units); South Carolina (one in every 2,495 housing units); and Delaware (one in every 2,603 housing units).
The report also noted that among metro areas with a population of at least 200,000, those with the highest foreclosure rates in April 2023 included Atlantic City, NJ (one in every 1,356 housing units with a foreclosure filing); Cleveland, OH (one in every 1,580 housing units); Lakeland, FL (one in every 1,649 housing units); Columbia, SC (one in every 1,651 housing units); and Chicago, IL (one in every 1,950 housing units).
ATTOM’s April 2023 foreclosure analysis stated that among those metro areas with a population greater than 1 million, those with the worst foreclosure rates, aside from Cleveland, OH and Chicago, IL, included Riverside, CA (one in every 2,046 housing units); Philadelphia, PA (one in every 2,079 housing units); and Jacksonville, FL (one in every 2,091 housing units).
In this post, we dive deep into the data behind ATTOM’s April 2023 foreclosure report to uncover the top 10 U.S. zip codes with the highest foreclosure rates. Those ZIPS include: 77303 – Conroe, TX (one in every 243 housing units); 19438 – Harleysville, PA (one in every 293 housing units); 33035 – Homestead, FL (one in every 324 housing units); 60428 – Markham, IL (one in every 363 housing units); 89143 – Las Vegas, NV (one in every 393 housing units); 08004 – Atco, NJ (one in every 405 housing units); 44105 – Cleveland, OH (one in every 437 housing units); 60478 – Country Club Hills, IL (one in every 441 housing units); 60466 – Park Forest, IL (one in every 450 housing units); and 11575 – Roosevelt, NY (one in every 457 housing units).
ATTOM’s latest foreclosure market analysis also reported that lenders started the foreclosure process on 22,455 U.S. properties in April 2023, down 7 percent from March 2023 and up only 1 percent from April 2022.
The report noted that counter to the national trend, states that had at least 100 foreclosure starts in April 2023 and saw the greatest monthly increases included Maryland (up 55 percent); New Mexico (up 55 percent); Iowa (up 29 percent); Utah (up 13 percent); and Florida (up 12 percent).
The April 2023 foreclosure report also found that lenders repossessed 2,919 U.S. properties through completed foreclosures (REOs) in April 2023, down 39 percent from March 2023 but up 3 percent from April 2022.
The report noted that states with the greatest number of REOs in April 2023 included Illinois (334 REOs); Pennsylvania (218 REOs); New York (199 REOs); Texas (184 REOs); and California (171 REOs).
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