Based on ATTOM’s newly released May 2023 U.S. Foreclosure Market Report, there were a total of 35,196 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — up 7 percent from a month ago and up 14 percent from a year ago.

“The recent increase in foreclosure filings nationwide indicates a trend that has been observed throughout the year, and what we have expected to occur,” said Rob Barber, CEO at ATTOM. “This upward trajectory suggests the possibility of continued heightened activity, and with foreclosure completions seeing the largest monthly increase this year, we will continue to monitor the potential impacts this may have on the housing market.”

Illinois, Maryland and New Jersey post highest foreclosure rates

Nationwide one in every 3,967 housing units had a foreclosure filing in May 2023. States with the highest foreclosure rates were Illinois (one in every 2,144 housing units with a foreclosure filing); Maryland (one in every 2,203 housing units); New Jersey (one in every 2,257 housing units); Florida (one in every 2,470 housing units); and Ohio (one in every 2,478 housing units).

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