Foreclosure filings see slight uptick in May

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The number of foreclosure filings increased slightly in May, but they are still down significantly from the year before, according to ATTOM Data Solutions.

Foreclosure filings in May increased to a total of 81,495 filings. This is up 5% from April but down 19% from last year, marking a 20-month consecutive decline.

Across the nation, one in every 1,636 housing units had a foreclosure filing in May 2017.

Here are the states with the highest foreclosure rates in May:

  • New Jersey – One in every 515 homes
  • Delaware – One in every 753 homes
  • Maryland – One in every 1,006 homes
  • Illinois – One in every 1,057 homes
  • Oklahoma – One in every 1,081 homes

And of the 217 metropolitan statistical areas with a population of at least 200,000, here are the metros with the highest foreclosure rates in May:

  • Atlantic City, New Jersey – One in every 271 homes
  • Trenton, New Jersey – One in every 508 homes
  • Fayetteville, North Carolina – One in every 523 homes
  • Rockford, Illinois – One in every 690 homes
  • Philadelphia, Pennsylvania – One in every 722 homes

A total of 35,787 properties started the foreclosure process in May, up 5% from the month before, but down 15% from the year before.

Lenders completed foreclosures on 27,086 properties in May. This is an increase of 4% from April but a decrease of 20% from last year.

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