Foreclosure Activity Down During First Half Of The Year
WRE News July 13, 2024
Buyer
WRE News July 13, 2024
Buyer
A total of 177,431 properties carried foreclosure filings — default notices, scheduled auctions or bank repossessions — during the first six months of this year, according to new data from ATTOM. This represents a 4.4% decline from the same time period one year ago, but it is also 7.8% above the same time period two years ago.
Nationwide, 0.13% of all housing units (one in every 794) had a foreclosure filing in the first half of 2024. The states with the greatest increases in foreclosure activity compared to one year ago in the first half of 2024 included South Dakota (up 93%), North Dakota (up 86%), Kentucky (up 73%), Massachusetts (up 46%) and Idaho (up 30%).
“In contrast to the first half of 2023, foreclosure activity across the United States experienced a decline in the first half of 2024,” said Rob Barber, CEO for ATTOM. “In addition, U.S. foreclosure starts also decreased by 3% in the first six months of 2024. These shifts could suggest a potential stabilization in the housing market; however, monitoring these evolving patterns remains crucial to understanding the full impact on the real estate sector.”
ATTOM also reported that one in every 5,071 properties had a foreclosure filing in June, with 18,574 properties starting the foreclosure process last month, down 17% from the previous month and down 22.7% from June 2023. Lenders completed the foreclosure process on 2,891 properties in June, up 0.4% from the previous month and down 10% from June 2023.
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