02/22/2024
The latest U.S. Foreclosure Market Report from ATTOM Data Solutions for January 2024 reveals an increase in foreclosure filings. The report shows 33,270 properties faced foreclosure, marking a 5% rise from last year and a 10% increase from the previous month.
Vinh Truong, CFO of MY FORECLOSURE HERO, suggests this uptick could result from post-holiday filings and broader economic factors like rising interest rates and inflation. In January, 19 states saw higher completed foreclosures, with notable increases in Michigan, Minnesota, California, Pennsylvania, and Missouri. Foreclosure initiations also rose, with the highest numbers in California, Texas, Florida, New York, and Illinois. Major cities like New York, Houston, Los Angeles, Miami, and Chicago experienced significant foreclosure starts.