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Read next: Mortgage credit availability hits decade-low in wake of bank turmoil
Foreclosure starts dropped 7% from March, with 22,455 properties in the process of being foreclosed. Counter to the national trend, states that had at least 100 foreclosure starts in April 2023 and posted the greatest monthly increases included: Maryland (55%); New Mexico (55%); Iowa (29%); Utah (13%); and Florida (12%).
The report also showed that lenders repossessed 2,919 properties through foreclosures (REOs), a 39% month-over-month decline. The states that reported the greatest number of REOs in April were Illinois (334), Pennsylvania (218), New York (199), Texas (184), and California (171).
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