National Foreclosure Rates Sore

 South Carolina, Delaware, and Illinois had the greatest rates of foreclosure.
There were 34,501 homes in the United States with foreclosure filings (deficit notifications, scheduled auctions, or bank repossessions) in August 2022, an increase of 14% from the previous month and 118% from August 2021. This data comes from ATTOM's August 2022 U.S. Foreclosure Market Report.
The rate at which foreclosure lawsuits are being filed around the country has reached epidemic proportions.

 Foreclosure proceedings on 23,952 U.S. homes were initiated by lenders that month, representing an increase of 187% year-over-year and 11% month-over-month.

 Each state with at least 100 foreclosure starts in August 2022 had a rise in foreclosure filings from the previous month, with the greatest increases occurring in Oklahoma (up 80%), Tennessee (up 74%), Virginia (up 64%), Arkansas (up 53%), and Washington. (a gain of 50%)

 When broken down by county, August 2022 saw the most foreclosures in Cook County, Illinois (798), Los Angeles County, California (740), Harris County, Texas (465), Suffolk County, New York (297), and Riverside County, California. (There are 280 new foreclosure filings).

 One in every 4,072 U.S. homes was in foreclosure in August 2022. One foreclosure filing per 1,926 housing units in Illinois, one filing per 2,387 housing units in Delaware, one filing per 2,417 housing units in South Carolina, one filing per 2,441 housing units in New Jersey, and one filing per 2,441 housing units in Florida were the states with the highest foreclosure rates (one in every 2,950 housing units).

 A foreclosure filing was found in one in every 869 homes in Peoria, Illinois; Jacksonville, North Carolina; Bakersfield, California; South Bend, Indiana; and Rockford, Illinois, in August of 2022. (one in every 1,496 housing units).

 The foreclosure rate was highest in August 2022 in cities with over 1,000,000 residents, specifically Cleveland, OH (1 foreclosure for every 1,820 housing units), Chicago, IL (1 foreclosure for every 1,877 housing units), Jacksonville, FL (2 foreclosures for every 2,074 housing units), Riverside, CA (2 foreclosures for every 2,091 housing units), and Orlando, FL (1 foreclosure for every 2,091 housing units) (one in every 2,445 housing units).

 Recent months have seen a 28% increase in the number of foreclosures that have closed.

 There were 3,938 REOs (bank-repossessed properties) in the United States in August 2022, up 28% from the previous month and 59% from August 2021.

 As of August 2022, the states with the highest number of real estate-owned properties were Illinois (493 REOs), New York (337 REOs), Michigan (326 REOs), Pennsylvania (260 REOs), and California. (189 REOs).

 REOs increased by double-digit percentages in every major city with a population of over a million in August 2022, led by those with the largest metropolitan areas in the United States: Kansas City, Missouri (967%), New York, New York (90%), Philadelphia, Pennsylvania (28%), and Detroit, Michigan (28%). (up 23 percent).

 More foreclosures will be coming onto the market as inflation and price increases for goods and services continue to worsen.