Baltimore-Columbia-Towson, MD Has One Of The Highest Foreclosure Rates In The Country

By Samuel Stebbins, 24/7 Wall St. - Baltimore

September 5, 2023

Foreclosure activity in the U.S. is on the rise. In the first six months of the year, default notices, scheduled auctions, or bank repossessions, increased by 13% compared to the first half of last year, and by 185% compared to the first six months of 2021, according to land, property, and real estate data provider ATTOM.

The highest number of foreclosure filings were reported in Illinois, New Jersey, and Maryland, while the largest increases in foreclosures occurred in Maryland, Oregon, and Alaska. At a more granular level, some major U.S. metropolitan areas are also reporting especially high foreclosure rates relative to the rest of the country.

According to a recent report from ATTOM, the Baltimore-Columbia-Towson metro area in Maryland has one of the highest foreclosure rates of any city in the country. In the first half of 2023, there was about one foreclosure for every 431 homes, the 18th highest foreclosure rate of the 223 metropolitan statistical areas with populations of at least 200,000 considered in the report.

The 2,752 total foreclosures in the metro area from January to June 2023 represents a 92.4% increase from the same period in 2022.

All data in this story is from the ATTOM report Foreclosure Activity In First Half Of 2023 Ticks Upwards Toward Pre-Covid Levels.

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This story was originally published by 24/7 Wall St., a news organization that produces real-time business commentary and data-driven reporting for state and local markets across the country.