Foreclosure Activity Rises Again in August
Foreclosures ticked higher for the sixth straight month in August, according to ATTOM’s latest U.S. Foreclosure Market Report. Nearly 35,700 properties had a filing last month — up 18% from a year ago — even though filings dipped 1% from July.
Rob Barber, ATTOM’s CEO, noted that “the ongoing rise in both foreclosure starts and completions suggests that some homeowners may be experiencing added financial strain in the current high-cost and high-interest-rate environment.”
Nevada, South Carolina, and Florida posted the worst foreclosure rates, with metros like Lakeland, FL and Cleveland, OH hit especially hard. Lenders launched more than 24,000 new filings nationwide, led by Texas, Florida, and California. Completed foreclosures also surged 41% year-over-year, with the highest numbers in Texas, California, and New York.
Foreclosure activity is still below pre-pandemic levels, but the steady climb signals growing pressure on homeowners — and possibly more distressed inventory ahead for buyers and agents to watch.