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

This is a syndicated repost published with the permission of Confounded Interest. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

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.

foreclosure_activity_historical_oct_2016

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%

mosefear

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