New data shows home foreclosures are soaring across the nation, especially in certain states.
According to a report from real estate data provider ATTOM, tens of thousands of houses were facing foreclosure as of last month.
The report found that a total of 32,938 properties across the country had foreclosure filings in February, up 8% over a year ago, although that number was down 1% from January.
South Carolina had the highest foreclosure rate with one in every 2,248 housing units followed by Delaware, Florida, Ohio, and Connecticut.
“The annual uptick in U.S. foreclosure activity hints at shifting dynamics within the housing market,” said Rob Barber, CEO at ATTOM.
“These trends could signify evolving financial landscapes for homeowners, prompting adjustments in market strategies and lending practices,” Barber said.
South Carolina again topped the list with completed foreclosures up 51% compared to a year ago.
Chicago saw the most completed foreclosures, followed by Philadelphia, New York City, Pittsburgh, and Detroit.
