More Americans Are Losing Their Homes as Foreclosures on US Properties Rise
- Filings have increased 23 straight months on annual basis
- New York and Chicago among cities with most foreclosure starts
Photographer: Justin Sullivan/Getty Images
US foreclosure filings jumped 22% in the first quarter compared to the same period a year ago, according to a report from real estate data analytics firm ATTOM.
While still below pre-pandemic levels, foreclosure activity has increased on an annual basis for 23 straight months. The uptrend reflects higher jobless rates, ongoing economic challenges and backlogged foreclosures working through the pipeline after the lifting of government interventions to help struggling homeowners during the pandemic, said Rob Barber, chief executive officer of ATTOM.