U.S. Foreclosure Activity Increases 27 Percent in October (Biggest Month-to-Month Increase Since August 2007)

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IRVINE, Calif. – Nov. 10, 2016 — ATTOM Data Solutions, curator of the nation’s largest fused property database, today released its October 2016 U.S. Foreclosure Market Report™, which shows a total of 105,481 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — in October, up 27 percent from a 129-month low in September but still down 8 percent from a year ago.

YoY trends?

• Colorado +64%
• Georgia +22%
• Pennsylvania +20%
• Arizona +17%
• Virginia +15%
• Massachusetts +11%
• New York +10%

Foreclosure starts increased even year-over-year in 23 states and Washington D.C. In some states they soared. The “top” five:

1. Colorado +71%
2. Arizona +48%
3. Ohio +34%
4. New York +15%
5. Virginia +15

Auction notices jumped 30% from the prior month to 43,815 (in some states, these are foreclosure starts), the biggest monthly increase since January 2006. While still down 6% year-over-year nationally, auction notices rose year-over-year in 25 states and Washington D.C. The “top” five:

1. Pennsylvania +66%
2. Indiana +37%
3. Illinois +34%
4. New York +12%
5. New Jersey +6%

Bank repossessions (REO) jumped 25% from the prior month to 34,288 homes, the biggest monthly increase since July 2015. While REOs were still down 6% year-over-year nationally, they increased in 22 states and Washington D.C. The “top” five:

1. Massachusetts +104%
2. Georgia +53%
3. Wisconsin +45%
4. Texas +38%
5. Virginia +17%