RealtyTrac weighs in with its latest U.S. Foreclosure Market Report for October 2015, which shows foreclosure filings occurring on 115,134 properties in October, a 6% increase month-over-month, though a 6% decrease year-over-year.
The jump in foreclosure activity was driven by a 12% month-over-month surge in foreclosure starts, with more than 48,600 properties starting the process in October. That was the biggest monthly increase since the much darker days of August 2011
“We’ve seen a seasonal increase in foreclosure starts in October for the past five consecutive years, so it’s not too surprising to see the monthly increase this October,” said Daren Blomquist, vice president at RealtyTrac. “However, the 12 percent increase this October is more than double the average 5 percent monthly increase in the past five Octobers, and the even more dramatic monthly increases in some states is certainly a concern. The upward trend in foreclosure starts in those states in some cases could be an indication of fissures in economic fundamentals driving more distress and in other cases is more likely an indication of long-term delinquencies finally entering the foreclosure pipeline.”
Here's a brief video examining the results:
For the full comprehensive report, head on over to RealtyTrac: