Foreclosure filings see slight uptick in May


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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