Foreclosure starts outnumbered completions by nearly tenfold in May
Foreclosure starts outnumbered completions by nearly tenfold in May
Abstract
The total number of U.S. properties with foreclosure filings totaled 30,881 in May, an increase of 1% from April. In April, filings had fallen by 8% on a monthly basis. Illinois led the country on a per-housing-unit basis, with one in 2,000 homes in foreclosure proceedings. New starts were also 274% higher than in May 2021. Midwestern states saw the highest number of repossessed properties in May. But recent economic news has researchers warning about potential headwinds.
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