U.S. Foreclosure Activity Declines Monthly in February 2023 but Continues to Increase Annually
Industry Update
March 8, 2023
Source: www.prnewswire.com
ATTOM, a leading curator of land, property, and real estate data, today released its February 2023 U.S. Foreclosure Market Report, which shows there were a total of 30,528 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — down 3 percent from a month ago and up 18 percent from a year ago.
“Foreclosure activity finally started to stabilize in February after 21 straight months of increases,” said Rob Barber, chief executive officer at ATTOM. “The numbers don’t yet show a clear trend toward fewer foreclosures, partly because February is a short month. But with historically high levels of home equity flowing from a decade of rising values, we may be seeing a growing number of delinquent mortgage payers with at least the option to sell before facing foreclosure.”
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