Based on ATTOM's Year-End 2023 U.S. Foreclosure Market Report, U.S. foreclosure filings - default notices, scheduled auctions and bank repossessions - were reported on 357,062 U.S. properties in 2023, up 10% from 2022 and up 136% from 2021 but down 28% from 2019, before the pandemic shook up the market. Foreclosure filings in 2023 were also down 88% from a peak of nearly 2.9m in 2010.

Those 357,062 properties with foreclosure filings in 2023 represented 0.26% of all U.S. housing units, up slightly from 0.23% in 2022, but down from 0.36% in 2019 and down from a peak of 2.23% in 2010.

"Reflecting on 2023, we see the recent rise in foreclosure activity as a market correction rather than a cause for alarm. It signals a return to more traditional patterns after years of volatility," said Rob Barber, CEO at ATTOM. "Our data suggests that while foreclosure activity may fluctuate, it's unlikely to approach the highs seen in the last decade."

Counter to the national trend, six states saw an increase in foreclosure starts compared to 2019. They included Indiana (up 73%); Idaho (up 70%); Michigan (up 15%); Nevada (up 10%); and Minnesota (up 9%).