“As property values have exploded in some areas, property taxes have as well,” Hannah Jones, an economic research analyst at, said in a news release. That's a good thing for homeowners, but some can’t afford their new tax bills, especially with inflation’s impact on other household expenses. have increased dramatically over the past few years. Rising property taxes are another factor driving foreclosures. Most homeowners were protected from foreclosure from March 2020 to May 2021, so the uptick in filings is expected as lenders catch up to borrowers who fell behind on their bills. Homeowners shouldn’t panic about a repeat of the 2008 housing crisis anytime soon, says. Should homeowners be worried about foreclosures? says 15 times as many mortgage borrowers were dealing with foreclosure around that time. This year's numbers also pale in comparison to the 2010 peak of the housing crisis, when there were over 1.6 million homes with foreclosure filings.There were 296,458 foreclosure filings for the same period in 2019, which was considered a 15-year low at the time. Compared to the years leading up to the pandemic, foreclosure filings are even lower now.ATTOM data shows Illinois, New Jersey and Maryland posted the most foreclosures.

The number of homes with foreclosure filings in the first half of 2023 was slightly less than 186,000.A distressed property filing means a home is in danger of foreclosure, while a foreclosure is the repossession and sale of a home by a lender to recoup a mortgage balance when a borrower fails to pay. Nationwide, about 2.5 out of every 10,000 homes had a distressed property or foreclosure filing in June, according to 's analysis.Hawaii Alaska Florida South Carolina Georgia Alabama North Carolina Tennessee RI Rhode Island CT Connecticut MA Massachusetts Maine NH New Hampshire VT Vermont New York NJ New Jersey DE Delaware MD Maryland West Virginia Ohio Michigan Arizona Nevada Utah Colorado New Mexico South Dakota Iowa Indiana Illinois Minnesota Wisconsin Missouri Louisiana Virginia DC Washington DC Idaho California North Dakota Washington Oregon Montana Wyoming Nebraska Kansas Oklahoma Pennsylvania Kentucky Mississippi Arkansas Texas View Rates What the data says

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