ATTOM has released its October 2022 U.S. Foreclosure Market Report, which shows there were a total of 32,376 U.S. properties with foreclosure filings: up 57% from a year ago, but only up 2% from the prior month.

Nationwide, one in every 4,339 housing units had a foreclosure filing in October. States with the highest foreclosure rates were Illinois (one in every 1,779 housing units with a foreclosure filing); Delaware (one in every 2,178 housing units); New Jersey (one in every 2,305 housing units); South Carolina (one in every 2,711 housing units); and Nevada (one in every 2,755 housing units).

“Even though foreclosure activity continues its slow, steady increase since the end of the government’s moratorium, we’re still far below normal levels,” says Rick Sharga, executive vice president of market intelligence at ATTOM. “October foreclosure activity was about 59 percent of pre-pandemic numbers, and at its current pace foreclosures probably won’t be back to historically normal levels until sometime around mid-2023.”

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Foreclosures Rose Over 50 Percent from 2021 to 2022, ATTOM Reports