Your inside source for real estate, development and construction information serving the counties of Mecklenburg, Union & Iredell VOLUME 106 NUMBER 29 ■ MECKTIMES.COM
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TUESDAY, AUGUST 9, 2022 ■ $2.00
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Increased foreclosure activity in first six months of 2022 approaches pre-COVID levels ATTOM has released its Midyear 2022 U.S. Foreclosure Market Report, which shows there were a total of 164,581 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — in the first six months of 2022. That figure is up 153 percent from the same time period a year ago but down just one percent from the same time period two years ago. “Foreclosure activity across the United States continued its slow, steady climb back to pre-pandemic levels in the first half of 2022,”
said Rick Sharga, executive vice president of market intelligence at ATTOM. “While overall foreclosure activity is still running significantly below historic averages, the dramatic increase in foreclosure starts suggests that we may be back to normal levels by sometime in early 2023.” Bucking the national trend with decreasing foreclosure activity compared to a year ago in the nation’s most populated metros during the first half of 2022, were only 7 of the 223 metro areas analyzed. Those metros included Lake
Havasu, Arizona (down 47 Jersey (0.24 percent); Ohio percent); Eugene, Oregon (0.21 percent); Delaware (0.20 (down 27 percent); Springfield, percent); and South Carolina Illinois (down 19 percent); (0.19 percent). Shreveport, Louisiana (down Other states with first-half 9 percent); and Brownsville, foreclosure rates among the Texas (down 8 percent). 10 highest nationwide, were Illinois, New Jersey, and Florida (0.18 percent); Nevada Ohio post highest state (0.18 percent); Indiana (0.16 foreclosure rates percent); Georgia (0.13 Nationwide 0.12 percent of percent); and Michigan (0.13 all housing units (one in every percent). Highest metro 854) had a foreclosure filing in foreclosure rates in the first half of 2022. States with the highest Cleveland, Atlantic City, foreclosure rates in the first and Jacksonville Among 223 metropolitan half of 2022 were Illinois (0.26 percent of housing units PLEASE SEE FORECLOSURES ON PAGE 4 with a foreclosure filing); New
“Home sellers and home buyers are adjusting to a new reality in the housing market,” Ali Wolf Zonda
Story, page 4