Foreclosure activity in the U.S. is on the rise. In the first six months of the year, default notices, scheduled auctions, or bank repossessions, increased by 13% compared to the first half of last year, and by 185% compared to the first six months of 2021, according to land, property, and real estate data provider ATTOM.
The highest number of foreclosure filings were reported in Illinois, New Jersey, and Maryland, while the largest increases in foreclosures occurred in Maryland, Oregon, and Alaska. At a more granular level, some major U.S. metropolitan areas are also reporting especially high foreclosure rates relative to the rest of the country.
According to a recent report from ATTOM, the Las Vegas-Henderson-Paradise metro area in Nevada has one of the highest foreclosure rates of any city in the country. In the first half of 2023, there was about one foreclosure for every 424 homes, the 14th highest foreclosure rate of the 223 metropolitan statistical areas with populations of at least 200,000 considered in the report.
The 2,148 total foreclosures in the metro area from January to June 2023 represents a 12.1% increase from the same period in 2022.
All data in this story is from the ATTOM report Foreclosure Activity In First Half Of 2023 Ticks Upwards Toward Pre-Covid Levels.
RankMetro areaForeclosure ratioHomes in foreclosure, first half of 20231-yr. change in homes in foreclosure (%)1Cleveland-Elyria, OH1 per 301 homes3,209-17.12Atlantic City-Hammonton, NJ1 per 307 homes429-1.63Fayetteville, NC1 per 337 homes48223.94Columbia, SC1 per 342 homes1,063-2.45Lakeland-Winter Haven, FL1 per 347 homes8974.26Chicago-Naperville-Elgin, IL-IN-WI1 per 358 homes10,963-6.77Jacksonville, FL1 per 390 homes1,7419.98Florence, SC1 per 391 homes2303.19Philadelphia-Camden-Wilmington, PA-NJ-DE-MD1 per 394 homes6,53017.110Elkhart-Goshen, IN1 per 395 homes20124.111Spartanburg, SC1 per 399 homes37213.412Peoria, IL1 per 405 homes41413.413Macon, GA1 per 419 homes2474.214Las Vegas-Henderson-Paradise, NV1 per 424 homes2,14812.115Orlando-Kissimmee-Sanford, FL1 per 428 homes2,50415.316Pensacola-Ferry Pass-Brent, FL1 per 428 homes51334.317Akron, OH1 per 430 homes737-4.718Baltimore-Columbia-Towson, MD1 per 431 homes2,75292.419Ocala, FL1 per 435 homes4039.820Trenton, NJ1 per 456 homes328-6.621Davenport-Moline-Rock Island, IA-IL1 per 464 homes3733.022Jacksonville, NC1 per 465 homes179-31.723Bakersfield, CA1 per 473 homes634-4.824Riverside-San Bernardino-Ontario, CA1 per 474 homes3,32112.525Canton-Massillon, OH1 per 475 homes3790.026Laredo, TX1 per 477 homes17616.627Palm Bay-Melbourne-Titusville, FL1 per 481 homes5969.428Vallejo-Fairfield, CA1 per 486 homes33221.229Augusta-Richmond County, GA-SC1 per 490 homes5357.430South Bend-Mishawaka, IN-MI1 per 494 homes290-6.1
