A total of 324,237 U.S. properties reported foreclosure filing in 2022, which is up 115% from 2021. This number is only 89% of the 2.9 million foreclosures reported in 2010 in the midst of the crash. The 324,237 foreclosure properties in 2022 total 0.23% of all U.S. homes.
Foreclosure filings for December 2022 came in at 30,822, which is down less than 1% from those filed in November 2022, but is a 72% increase from filings in 2021.
According to the ATTOM report, lenders repossessed 42,854 properties through REOs in 2022, which is up 67% from 2021.
States Reporting Most REOs in 2022
Illinois – 5,518
Michigan – 3,669
Pennsylvania – 2,741
New York – 2,405
California – 2,223
Metro Areas with Highest REOs
Chicago – 3,545
Detroit – 2,135
New York – 1,656
St. Louis – 1,395
Philadelphia – 1,302
Smaller Metro Areas with Surging REOs
Cleveland – 0.70%
Jacksonville, SC – 0.58%
Atlantic City – 0.58%
States That Take the Longest Time to Foreclose
Hawaii – 2,546 days
New Jersey – 2,041 days
Louisiana – 1,925 days
New York – 1,828 days
Pennsylvania – 1,682 days