Saturday, November 12, 2016
IRVINE, CA — ATTOM Data Solutions, curator of the nation’s largest fused property database, 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.
October marked the 13th consecutive month where U.S. foreclosure activity decreased on a year-over-year basis, but the month-over-month increase in October was the biggest monthly increase since August 2007.
Counter to the national trend, 28 states and the District of Columbia posted year-over-year increases in overall foreclosure activity in October, including New York (up 10 percent), Pennsylvania (up 20 percent), Ohio (up 4 percent), Georgia (up 22 percent), Virginia (up 15 percent), Massachusetts (up 11 percent), Arizona (up 17 percent), Indiana (up 3 percent), Wisconsin (up 3 percent), and Colorado (up 64 percent).
“While some states are still slogging through the remnants of the last housing crisis, the foreclosure activity increases in states such as Arizona, Colorado and Georgia are more heavily tied to loans originated since 2009 — after most of the risky lending fueling the last housing boom had stopped,” said Daren Blomquist, senior vice president at ATTOM Data Solutions.
“The increase in October isn’t enough evidence to indicate a new foreclosure crisis emerging in these states, but it certainly demonstrates that this housing recovery is not completely devoid of risk.”
For a complete copy of the company’s news release, please contact:
Jennifer von Pohlmann
949.502.8300, ext. 139
Posted by Alex at 1:24 PM