Lenders started the foreclosure process on 24,302 U.S. properties in July, up 12% from compared with June and up 11% compared with July 2024, according to ATTOM’s U.S. Foreclosure Market Report.
States that had the greatest number of foreclosure starts in July included Texas (3,600), Florida (2,891), California (2,830), Illinois (1,177) and Ohio (1,029).
Major metropolitan areas that had the greatest number of foreclosure starts in July included Houston (1,406), Chicago (1,117), New York (1,003), Miami (920) and Dallas (751).
Nationwide, foreclosure filings — default notices, scheduled auctions or bank repossessions — increased 11% compared with June and were up 13% compared with a year ago.
“July’s foreclosure activity continues to trend upward year-over-year, with increases in both starts and completions,” says Rob Barber, CEO at ATTOM, in a statement. “While rising home prices are helping many owners maintain equity, the steady climb in filings suggests growing pressure in some markets.”
Nationwide, one in every 3,939 housing units had a foreclosure filing in July. States with the worst foreclosure rates were Nevada, Florida, Maryland, South Carolina and Illinois.
Lenders repossessed 3,866 residential properties through completed foreclosures (REOs) in July, a decrease of 1% compared with the previous month but an increase of 18% from a year ago.
States that had the greatest number of REOs in July included Texas (377), California (360), Florida (241), Michigan (236) and Illinois (223).
Major metropolitan statistical areas (MSAs) that saw the greatest number of REOs in July included Chicago (139), New York (120), Detroit (101), Houston (95) and Los Angeles (77).
Photo: Matthew Moloney
