ATTOM: Foreclosures Down Month over Month in October


A total of 34,472 U.S. properties saw foreclosure filings — default notices, scheduled auctions or bank repossessions — in October, down 6% compared with September but up 6% compared with October 2022, according to ATTOM’s U.S. Foreclosure Market Report.

States with the highest foreclosure rates included Delaware (one in every 2,432 housing units with a foreclosure filing); Ohio (one in every 2,492 housing units); New Jersey (one in every 2,550 housing units); Maryland (one in every 2,565 housing units); and South Carolina (one in every 2,569 housing units).

Cities that had the highest foreclosure rates included Cleveland (one in every 1,403 housing units with a foreclosure filing); Atlantic City, N.J. (one in every 1,547 housing units); Spartanburg, S.C. (one in every 1,708 housing units); Bakersfield, Calif. (one in every 1,785 housing units); and Jacksonville, N.C. (one in every 1,848 housing units).

“Foreclosure filings continue to paint a concerning picture,” says Rob Barber, CEO at ATTOM. “With foreclosure filings ranging from 31,557 in January 2023 to 34,472 in October 2023, it’s evident that challenges in the housing market persist. While we anticipate a likely decline in the coming months due to the holiday season and other seasonal patterns, we do foresee a continued uptick in 2024 as foreclosure filings make their way through the pipeline.”

Lenders started the foreclosure process on 23,343 U.S. properties in October, a decrease of 7% compared with September but up 7% compared with October 2022.

States that had the greatest number of foreclosure starts in October included Texas (2,966 foreclosure starts); California (2,747 foreclosure starts); Florida (2,319 foreclosure starts); New York (1,405 foreclosure starts); and Georgia (1,054 foreclosure starts).

Cities that had the greatest number of foreclosure starts included New York (1,412 foreclosure starts); Houston (1,132 foreclosure starts); Miami-Fort Lauderdale, Fla. (941 foreclosure starts); Los Angeles (808 foreclosure starts); and Chicago (705 foreclosure starts).

Lenders repossessed 3,332 U.S. properties through completed foreclosures (REOs) in October, down less than 1% from last month and down 20% from last year.

Photo: Luis Georg Müller

Notify of
Inline Feedbacks
View all comments