Another Joe Biden record!
Foreclosures are up 181% in one year. Home sales are down 12.6% year over year.
Home Sales in March were 763,000 vs. 835,000 in February and down 12.6% vs. the last March number of 873,000. Last month 33,333 properties across the U.S. faced foreclosure, a 181% jump from March 2021. The first quarter saw 78,271 properties with a foreclosure filing.
— Inflation Tracker (@TrackInflation) April 29, 2022
Some eight months after a nationwide moratorium on foreclosures expired, foreclosure filings soared to the highest level since the pandemic began.
Last month, 33,333 properties across the U.S. faced foreclosure, a 181 percent jump from March 2021 and 29 percent pop from February, according to a report by foreclosure tracker Attom. The first quarter saw 78,271 properties with a foreclosure filing, a 39 percent from the previous quarter and 132 percent from last year.
Those figures represent the highest number of foreclosures since March 2020 when nearly 47,000 U.S. homes held foreclosure filings, said Rick Sharga, executive vice president of market intelligence for ATTOM.
March marked the 11th consecutive month in which foreclosure activity posted a year-over-year increase.
Not only did foreclosure activity hit a peak, the time it took properties to foreclose ticked down 3 percent from the previous quarter. Properties foreclosed on in the first quarter were in the process for an average of 917 days, down from 941 in the previous period and 930 in the first quarter of 2021.