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| Daren Blomquist |
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
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