Foreclosures rose 5 percent in May compared with the previous month, according to ATTOM Data Solutions.
However, the 81,495 U.S. properties with foreclosure filings in May 2017 dropped 19 percent from a year ago. ATTOM’s data indicates that foreclosures have declined month versus month for 20 consecutive months. One in every 1,636 housing units had a foreclosure filing in May 2017.
According to ATTOM, states with the highest foreclosure rates in May were New Jersey (one in every 515); Delaware (one in every 753); Maryland (one in every 1,006); Illinois (one in every 1,057); and Oklahoma (one in every 1,081).
The metropolitan statistical areas with the highest foreclosure rates in May were Atlantic City (one in every 271 housing units); Trenton, N.J. (one in every housing 508); Fayetteville, N.C. (one in every 523); Rockford, Ill. (one in every 690); and Philadelphia (one in every 722).
There were 35,787 U.S. properties that started the foreclosure process in May, up 5 percent from the previous month but down 15 percent from a year ago. Lenders completed foreclosure on 27,086 U.S. properties in May, up 4 percent from the previous month but down 20 percent from a year ago.