A total of 31,649 residential properties carried foreclosure filings in April, down 4% from both the previous month and the previous year, according to data from ATTOM.
Nationwide one in every 4,453 housing units had a foreclosure filing in April. The states with the highest foreclosure rates were Maryland (one in every 2,214 housing units with a foreclosure filing); Illinois (one in every 2,517 housing units); Nevada (one in every 2,546 housing units); South Carolina (one in every 2,573 housing units); and Florida (one in every 2,854 housing units).
Lenders started the foreclosure process on 21,753 properties last month, down 7% from March and down 3% from April 2023. Lenders repossessed 2,904 properties through completed foreclosures in April, up 8% from the previous month but down by less than 1% from one year earlier.
“April’s foreclosure numbers highlight a mixed landscape in the U.S. housing market,” said Rob Barber, CEO at ATTOM. “While there is a general downtrend in foreclosure starts and filings, we have also seen an increase in completed foreclosures. This mixed activity underscores the importance of closely monitoring these developments to understand the ongoing dynamics in the real estate market.”
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