Foreclosure rates are at their lowest levels in some 20 years, according to ATTOM Data Solutions. Eight consecutive years have shown a decrease in foreclosure activity (foreclosure filings, default notices, scheduled auctions, bank repossessions) and during February 2019, there was an -11% decrease from just one year ago.
ATTOM indicated in its latest foreclosure report a total of 29,735 properties that had started the foreclosure process in February 2019. These totals represent a +1% increase from January 2019 but a decrease of -9% from one year ago.
Counter to national foreclosure trends, thirteen states posted increases in y/y foreclosure starts. Among those states are…
- Florida – +68%
- Oregon – +46%
- Louisiana – +34%
- Illinois – +9%
- Texas – +95
- Colorado – +3%
Metros with populations of 1M+ that saw annual increases in foreclosure stats included…
- Los Angeles – +7%
- Chicago – +15%
- Houston – +73%***
- Washington DC – +11%
- Miami – +74%***
The ten top states experiencing increasing foreclosure rates include…
- New Jersey – I in every 1,006 housing units
- Delaware – 1 in every 1,008 housing units
- Maryland – 1 in every 1,193 housing units
- Florida – 1 in every 1365 housing units
- Illinois – 1 in every 1,465 housing units
- South Carolina – 1 in every 1,615 housing units
- Connecticut – 1 in every 1,801 housing units
- Ohio – 1 in every 1,918 housing units
- Nevada – 1 in every 2,041 housing units
- Pennsylvania – 1 in every 2,205 housing units
