- Foreclosure filings down -21% from 2018 to 2019
- Foreclosures down -83% from peak in 2010 to lowest level since ATTOM Data Solutions began tracking foreclosure filings in 2005
ATTOM Data Solutions just released its Year-End 2019 US Foreclosure Market Report. Foreclosure filings including default notices, scheduled auctions and bank repossessions, were down -21% in December 2019 from 2018 – 2019. Foreclosure filings were also down -83% from the peak of foreclosure filings of nearly 2.9M in 2010. This -83% represents the lowest level of foreclosure filings since ATTOM began tracking foreclosure filings in 2005.
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ATTOM collected research from 2,200 US counties. As of December 2019, ATTOM discovered 53,279 properties with foreclosure filings, +7% from November 2019 and +2% from December 2018.
“The continued decline in distressed properties is one of many signs pointing to a much-improved housing market…That said, there is some reason for concern about the potential for a change in increase in about a third of the nation’s metro housing markets in 2019…While that’s not a major worry, it’s something that should be watched closely in 2020.” said ATTOM’s chief product officer, Todd Teta.
The states leading in increased foreclosure filings included California, Florida, Michigan, Texas, Illinois, Rhode Island, Mississippi, Arkansas, Louisiana, New Jersey, Delaware, Missouri and Georgia. Metros with statistical y/y increases in foreclosure fillings included Honolulu, Myrtle Beach SC, Florence SC, Buffalo NY and San Luis Obispo CA.
Although foreclosure starts are at new record lows nationwide, metros with double digit percentage increases in foreclosure filings included…
- Baton Rouge LS
- Atlanta GA
- Salt Lake City UT
- Orlando FL
- Portland OR
- Atlantic City NJ
- Trenton NJ
- Jacksonville FL
- Rockford IL
- San Mateo County CA
- Cobb County GA
- Hidalgo County TX
- Multnomah OR
- Orange County CA
- Washington County OR
- Franklin County OH
Thanks to CoreLogic’s Archava Pradham and Christine Stricker for source data.
Also read: California’s Median Home Price Jumped +10% to $615,090 in December 2019, Podcast: What To Expect In 2020? 10 Key Points! (Part 2), Foreclosure Activity Drops to Lowest Level Since 2005 BUT…