A total of 28,632 U.S. residential properties saw foreclosure filings – default notices, scheduled auctions or bank repossessions – in December, a decrease of 3% compared with November and down 5% compared with December 2023, according to ATTOM’s latest foreclosure report covering all 50 states.
California led the nation with 3,772 foreclosure filings in December, followed by Texas with 2,868 foreclosure filings, Florida with 2,652 foreclosure filings, New York with 1,524 foreclosure filings, and Illinois with 1,446 foreclosure filings.
There were 19,376 foreclosure starts in December, according to the firm’s data, down 4% from the previous month and down 5% from December 2023.
Completed foreclosures (REO) decreased by 4% monthly and 16% annually.
These trends highlight modest changes in foreclosure activity that may be shaped by evolving economic conditions, the firm says.
Rob Barber, CEO of ATTOM, says the continued decline in foreclosure activity throughout 2024 suggests a housing market that may be stabilizing, despite persistent economic uncertainties.
Barber notes that this year’s data indicates foreclosure trends potentially returning to more predictable levels, offering some clarity for industry professionals, investors, and homeowners.
While foreclosure filings remain an essential metric for assessing market health, Barber says current trends may reflect a more balanced landscape, influenced by prudent lending practices and resilient homeowners.
Photo: Matthew Moloney
