"Even with these increases, activity remains well below historic highs, said ATTOM CEO Rob Barber. The current trend appears to reflect a gradual normalization in foreclosure volumes as market conditions adjust and some homeowners continue to navigate higher housing and borrowing costs. Nationwide, one in every 3,871 housing units had a foreclosure filing in October. The highest state-level foreclosure rates were in: Florida: one in every 1,829 housing units"
"Among metro areas with populations of at least 1 million, Tampa, Fla., posted the highest foreclosure rate at one in every 1,373 housing units. The spike stemmed from the resumption of local data collection, which added backlogged filings and is expected to level off in November, ATTOM said. Foreclosures often rise in October due to slowed summer processing, end-of-quarter portfolio cleanups, seasonal household financial strain and courts ramping up after summer recess."
Foreclosure activity increased in October but remained well below historic highs. Nationwide, one in every 3,871 housing units had a foreclosure filing in October. The highest state-level foreclosure rates were in Florida (one in 1,829), South Carolina (one in 1,982), Illinois (one in 2,570), Delaware (one in 2,710) and Nevada (one in 2,747). Among large metros, Tampa posted the highest rate at one in 1,373, driven by resumed local data collection that added backlogged filings. Lenders initiated 25,129 foreclosure proceedings in October, up 6% from September and 20% year-over-year. Lenders completed 3,872 REOs, up 2% monthly and 32% annually.
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