Updated
Updated · CBS New York · Jul 16
U.S. Foreclosure Filings Jump 21% to 228,000 in H1 as Homeowner Strain Deepens
Updated
Updated · CBS New York · Jul 16

U.S. Foreclosure Filings Jump 21% to 228,000 in H1 as Homeowner Strain Deepens

3 articles · Updated · CBS New York · Jul 16

Summary

  • Nearly 228,000 U.S. foreclosure filings were recorded from January through June, up 21% from a year earlier and 28% from two years ago, ATTOM said Thursday.
  • ATTOM linked the rise to growing homeowner financial distress, as missed mortgage payments—often after setbacks such as job loss—push more properties into default notices, auctions or bank repossessions.
  • Idaho posted the biggest first-half increase at 59%, followed by Colorado at 57% and Georgia at 52%, while Florida had the highest overall rate in June at one filing per 2,106 housing units.
  • Foreclosure activity, which fell during the pandemic after reaching 640,864 in 2019, is now moving back toward pre-pandemic levels; separate Realtor.com data showed short sales rose 16% in the first quarter.

Insights

Do current assistance programs adequately address the new financial pressures pushing homeowners toward foreclosure beyond the mortgage itself?
Are soaring insurance costs creating a new, unavoidable path to foreclosure, even for homeowners with stable jobs?
With foreclosures rising and sellers cutting prices, is this the market correction first-time homebuyers have been waiting for?