Despite foreclosures (default notices, scheduled auctions, bank repossessions) being down -5% in April 2019 from March 2019 and being down -13% from one year ago for the tenth consecutive month of annual declines, there are some 26 major metros with populations of 500,000+ experiencing annual increases of foreclosure activities, according to ATTOM Data Solutions.
Take a look at some of the metros with annual foreclosure increases:
- Deltona – Daytona Beach FL – +211%
- San Antonio- +101%
- Jackson MS – +98%
- Orlando FL – +90%
- North Point – Sarasota FL – +51%
- Miami – +45%
- Columbus OH – +35%
- Portland OR – +31%
- El Paso – +22%
States with the highest annual increases in foreclosure rates included New Jersey, Maryland, Delaware, Illinois and Florida. Overall, foreclosure activity increased in 17 states including Washington (+38%), Florida (+34%), Oregon (+22%), Connecticut (+22%), Kentucky (+19%), Louisiana (+12%) and Georgia (+11%).
Todd Tetra, chief product officer with ÂTTOM, said, “Florida is seeing a steady annual increase in total foreclosure activity for the eighth consecutive month, which is being sustained by a constant annual double-digit increase in foreclosure starts.”
Among 220 metro areas ATTOM identified with populations of 200,000+, the highest foreclosure rates were in Atlantic City NJ, Fayetteville NC, Clarksville TN, Columbia SC and Deltona-Daytona Beach FL.
Additionally, foreclosure completions continue to decline, according to ATTOM. They declined –9% in April 2019 from March 2019 and -22% from one year ago, a sixth consecutive annual decline.
States with the highest annual decreases in foreclosure rates included Alabama (-45%), New York (-43%), Arizona (-38%), Nevada (-36%), Colorado (-34%), North Carolina (-32%), Maryland (-31%), Michigan (-25%), California (-20%) and Nevada (-14%).
CoreLogic’s latest Loan Performance Insights Report indicates that the current rate of foreclosure activity in the US is at its lowest rate in 19 years.