Top 10 ZIP Codes With The Most Lender Repossessions

Default notices, scheduled auctions, and bank repossessions were filed on a total of 30,677 U.S. properties in November 2022, according to ATTOM's recently issued U.S. Foreclosure Market Report. A year-over-year increase of 57% was offset by a monthly decrease of 5%.

According to ATTOM's most recent foreclosure activity research, one in every 4,580 homes would have a foreclosure filing in the month of November 2022. Foreclosure filings were found in one in every 2,401 homes in Illinois, 2 in every 736 homes in Delaware, 2 in every 2,916 homes in New Jersey, 1 in every 3,195 homes in South Carolina, and 1 in every 3,195 homes in Wyoming, according to the study (one in every 3,237 housing units).

The November 2022 report on foreclosure activity also revealed that 20,686 homes in the United States had foreclosure proceedings initiated on them during that month. When compared to the previous month, this number was down 5%, but it was up 98% when compared to the same period last year.

According to ATTOM's most recent data, the states with the highest number of foreclosure starts in November 2022 were: California (2,244), Texas (2,114), Florida (1,709), New York (1,575), and Illinois (1,050). (1,243 foreclosure starts).

In addition, ATTOM said that in November 2022, lenders repossessed 3,770 houses in the United States through completed foreclosures (REOs), which is a decrease of 9 percent from the previous month but an increase of 64 percent from the previous year.

According to the research, the five states with the highest concentrations of REOs in November 2022 were as follows: Illinois (343 REOs), New York (313 REOs), Pennsylvania (220 REOs), Michigan (210 REOs), and Ohio (200 REOs) (208 REOs).

Chicago, Illinois (278 REOs), New York, New York (174 REOs), Philadelphia, Pennsylvania (103 REOs), Detroit, Michigan (77 REOs), and Houston, Texas (77 REOs) led the pack among large metro areas with populations over 1 million in terms of REOs in November 2022. (59 REOs).

This piece delves deeper into the numbers behind ATTOM's foreclosure report for November 2022 to provide you with information at the zip code level. Most REOs were located in the following postcodes in November 2022: 14701 (Jamestown, NY) (18 REOs), 30906 (Augusta, GA) (16 REOs), 14048 (Dunkirk, NY) (16 REOs), 47265 (North Vernon, IN) (15 REOs), 30901 (Augusta, GA) (10 REOs), 12401 (Kingston, NY) (10 REOs), 47302 (Muncie, IN) (8 REOs).

"We may be at or near the top level of foreclosure activity for 2022," said Rick Sharga, ATTOM's senior vice president of market intelligence. While foreclosure filings and finalizations were both up from last year's artificially low levels, they were down from the previous month, and many lenders pause foreclosures over the winter holidays.