According to ATTOM Data’s latest U.S. Foreclosure Market Report, there were 30,677 U.S. properties with foreclosure filings (default notices, scheduled auctions or bank repossessions).  This figure was up 57% from one year ago but down 5% from October.  In addition, they report that REOs represented 3,770 U.S. properties in November 2022, down 9% from October but up 64% from on year ago.  States with the most REOs in November included: Illinois (343), New York (313), Pennsylvania (220), Michigan (210), and Ohio (208).

“We may be at or near a peak level of foreclosure activity for 2022…While foreclosure starts and foreclosure completions both increased compared to last year’s artificially low levels, they declined from last month, and lenders often put a moratorium on foreclosures during the holiday season.”  Said Rick Sharga, executive vice president of market intelligence at ATTOM.

This article was republished from Real Estate Investing Today, a weekly blog from the National REIA. Read more at realestateinvestingtoday.com.