New data from ATTOM found foreclosure filings— default notices, scheduled auctions and bank repossessions — were reported on 322,103 residential properties in 2024, down 10% from 2023 and down 35% from pre-pandemic 2019. Those properties with foreclosure filings last year represented 0.23% of all housing units, down slightly from 0.25% in 2023, and down from 0.36% percent in 2019.
Lenders started the foreclosure process on 253,306 properties in 2024, down 6% year-over-year, while 36,505 properties were repossessed through foreclosures, down 13% percent from 2023. The states with the highest foreclosure rates in 2024 were Florida (1 in every 267 housing units with a foreclosure filing); New Jersey (1 in every 267 housing units); Nevada (1 in every 273 housing units); Illinois (1 in every 278 housing units); and South Carolina (1 in every 304 housing units).
ATTOM also noted there were 28,632 properties with foreclosure filings during December, down 3% from the previous month and down 6% from one year ago.
“The continued decline in foreclosure activity throughout 2024 suggests a housing market that may be stabilizing, even as economic uncertainties persist,” said Rob Barber, CEO at ATTOM. “This year’s data points to foreclosure trends potentially returning to more predictable levels, offering some clarity for industry professionals, investors, and homeowners. While foreclosure filings remain a critical metric for understanding market health, current trends may point to a more balanced landscape, potentially shaped by careful lending practices and ongoing homeowner resilience.”
