There were a total of 30,227 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — in August, down 5.3% compared with July and down 11% compared with August 2023, according to ATTOM.
“Foreclosure activity has remained relatively steady in recent months, with both foreclosure starts and completed foreclosures declining in August,” says Rob Barber, CEO at ATTOM, in the report. “While overall activity is significantly lower than the peaks seen during the 2008 financial crisis, when filings exceeded 300,000 per month, the current economic environment, coupled with rising interest rates and affordability challenges, suggests a continued focus on potential housing market instability.”
States with the highest foreclosure rates included Nevada, Florida, Illinois, South Carolina and New Jersey.
Cities with a population greater than 1 million with the highest foreclosure rates included Riverside, Calif.; Miami; Chicago; and Orlando, Fla.
Cities with a population above 200,000 that saw the highest foreclosure rates included Lakeland, Fla.; Chico, Calif.; Columbia, S.C.; Bakersfield, Calif. and Las Vegas, Nev.
Lenders started the foreclosure process on 20,747 U.S. properties in August, down 5.1% from July and down 9.4% from August 2023.
States that had the greatest number of foreclosure starts in August included Florida, California, Texas, New York; and Illinois.
Lenders repossessed 2,889 U.S. properties through completed foreclosures (REOs) in August, down 12.0% from the previous month and down 13.9% from a year earlier.
States that had the greatest number of REOs in August included Pennsylvania, California, Illinois, Michigan and Florida.
Photo: Luis Georg Müller
