Foreclosure starts increased 9% in August compared with July but were down 6% compared with August 2017, according to the latest Foreclosure Activity Report from ATTOM Data Solutions.
There were about 32,775 foreclosure starts nationwide in August, according to ATTOM’s data.
States that saw the largest year-over-year increases in foreclosure starts included Michigan (up 75%), North Carolina (up 41%), Maryland (up 39%), South Carolina (up 8%) and Florida (up 4%).
Metropolitan areas that posted the biggest year-over-year increases in foreclosure starts included Charlotte, N.C. (up 46%); Washington, D.C. (up 14%); Baltimore, Md. (up 12%); Houston, Texas (up 8%); and Miami, Fla. (up 2%).
Bank repossessions also took a sizable jump in August, rising 14% compared with July – however, they were down 1% compared with a year earlier.
Lenders repossessed 21,640 properties in August. States that saw the biggest increases in repossessions, year-over-year, included Texas (up 86%), Georgia (up 79%), Missouri (up 23%), New Jersey (up 15%) and New York (up 14%).
Cities that saw the biggest increases included Houston, Texas (up 90%); Atlanta, Ga. (up 89%); Washington, D.C. (up 84%); St. Louis, Missouri (up 81%); and New York, N.Y. (up 5%).
Looking at all foreclosure filings – including default notices, scheduled auctions and bank repossessions – total activity increased 9% compared with July, but was still down 7% compared with August 2017.
