A total of 29,390 U.S. residential properties saw foreclosure filings — default notices, scheduled auctions or bank repossessions – in November, a decrease of 9% compared with October and down 5% compared with November 2023, according to ATTOM’s latest U.S. Foreclosure Market Report.
“The slight decline in U.S. foreclosure activity during November most likely reflects the seasonal ebb we often see this time of year,” says Rob Barber, CEO at ATTOM, in a statement. “While foreclosure filings are down both month-over-month and year-over-year, the data highlights areas of the country, such as Nevada, Florida, and Connecticut, where foreclosure rates remain relatively high. As we move into 2025, we’ll be closely monitoring how economic pressures and market dynamics may influence a potential rebound in activity.”
Nevada, Florida, and Connecticut had the highest number of foreclosure filings among the states.
Modesto, Calif.; Reading, Pa.; Bakersfield, Calif.; Riverside, Calif.; and Chico, Calif. were the top five cities for foreclosure filings in November.
Lenders started the foreclosure process on 20,231 U.S. properties in November 2024, down 3 percent from last month and down 10 percent from a year ago.
States that had the greatest number of foreclosure starts in November 2024 again included Texas, California and Pennsylvania.
Major metropolitan areas with a population greater than 1 million that had the greatest number of foreclosure starts included New York, Houston, Miami, Philadelphia and Los Angeles.
Foreclosure completions were up 21% compared with November 2023.
Lenders repossessed 3,089 U.S. properties through completed foreclosures (REOs) in November, an increase of 5% compared with October and up 21% compared with November 2023.
States that had the greatest number of REOs included: California, Texas, New York, Illinois and Pennsylvania.
Major cities that saw the greatest number of REOs in November included New York, Chicago, Baltimore, San Francisco and Los Angeles.
Photo: Roberto Nickson
