Foreclosure Increase in August Double the Norm

October 9, 2017 Posted by kingcade

The rise in foreclosure filings for August was more than double the norm, according to Attom Data Solutions.

“There is often a seasonal monthly increase in foreclosure activity in August paralleling the seasonal slowdown in the overall real estate market, but the 14% month-over-month increase nationwide this August is more than twice the average 6% seasonal increase in August over the previous 10 years — the highest in fact since a 37% month-over-month increase in August 2007,” according to Attom Data Solutions Senior Vice President Daren Blomquist.

There were 75,115 properties in some stage of foreclosure (including default notices, scheduled auctions and bank repossessions) in August, compared with 66,112 in July and 95,132 in August 2016.

The five states with the most foreclosure activity were Florida with 8,237 filings, California with 7,479, New Jersey with 5,721, Illinois with 5,137 and Ohio with 4,540.

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