There were 30,784 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — in October, an increase of 4% compared with September but down 11% from October 2023, according to ATTOM.
“Foreclosure activity remains challenging for U.S. homeowners, with starts and completed foreclosures up in October,” says Rob Barber, CEO of ATTOM, in a statement. “As we approach 2025, the recent Fed rate cut, and the new administration could impact mortgage rates and market stability. While seasonal factors may slow things down briefly, we’ll be watching closely to see how these recent dynamics affect the market in the coming year.”
States with the highest foreclosure rates included Nevada, New Jersey, Florida, California and South Carolina.
Among the U.S. cities with a population of at least 200,000, those with the highest foreclosure rates in October were Vallejo, Calif.; Bakersfield, Calif.; Chico, Calif.; Stockton, Calif.; and Lakeland, Fla.
Among the major U.S. cities (areas with a population greater than 1 million), the worst foreclosure rates were in Riverside, Calif.; Cleveland, Ohio; Fresno, Calif.; Indianapolis, Ind.; and Las Vegas.
Lenders started the foreclosure process on 20,950 U.S. properties in October, an increase of 6% compared with the previous month but down 10% from a year ago.
States that had the greatest number of foreclosure starts in October included California, Texas, Florida, New York and Michigan.
Those major metropolitan areas with a population greater than 1 million that had the greatest number of foreclosure starts in October included: New York, Los Angeles, Chicago, Miami-Fort Lauderdale and Houston.
Lenders repossessed 2,938 U.S. properties through completed foreclosures (REOs) in October, an increase of 12% compared with September but down 12% compared with October 2023.
States that had the greatest number of REOs in October included: California, Illinois, Texas, New York and Florida.
Cities with a population greater than 1 million that saw the greatest number of REOs in October included Chicago, New York, Los Angeles, Detroit and San Antonio.
Photo: Matthieu Joannon
