Post-Moratorium Foreclosure Activity Rises Modestly

Foreclosure filings increased in the fourth month following the July 31 expiration of the pandemic related moratorium. ATTOM says those filings were up 5.0 percent in October compared to September with 20,587 properties the subject of a default notice, scheduled auction, or actual bank repossession. This represents 76 percent growth from the prior October when the moratorium was in effect.

"As expected, now that the moratorium has been over for three months, foreclosure activity continues to increase," said Rick Sharga, executive vice president at RealtyTrac, an ATTOM company. "But it's increasing at a slower rate, and it appears that most of the activity is primarily on vacant and abandoned properties, or loans that were in foreclosure prior to the pandemic."

The filings affected one in every 6,675 housing units during the month. The rates were highest in Illinois (one in 1,923 units); Florida (one 3,180); and New Jersey (one in 3,438). Nevada and Ohio had the fourth and fifth highest rates.

Among large metropolitan areas, those with a population exceeding 200,000, the rate was highest in St. Louis, Trenton, and Miami.