A total of 36,033 residential properties had foreclosure filings during April, up by a slight 0.4% from the prior month and up by a more substantial 13.9% from one year ago.
According to data from ATTOM, one in every 3,950 housing units had a foreclosure filing in April. States with the worst foreclosure rates were South Carolina (one in every 2,311 housing units with a foreclosure filing); Illinois (one in every 2,405 housing units); Florida (one in every 2,526 housing units); Delaware (one in every 2,617 housing units); and Nevada (one in every 2,944 housing units).
Lenders started the foreclosure process on 25,265 properties last month, up 0.8% from March and up 16.1% from April 2024. Lenders repossessed 3,580 U.S. through completed foreclosures (REOs) in April, down 2.9% from the previous month but up 23.3% from one year earlier. April marked the second month of REO numbers increasing annually.
“April’s foreclosure activity continued its gradual climb, with both starts and completions up annually,” said Rob Barber, CEO at ATTOM. “While volumes remain below historical norms, the year-over-year increases may suggest that some homeowners are beginning to feel the effects of persistent economic pressures.”
