A total of 36,128 residential properties had foreclosure filings in July, up 11% from the prior month and up 13% from one year earlier.
According to data from ATTOM, one in every 3,939 housing units had a foreclosure filing in July. The states with the worst foreclosure rates were Nevada (one in every 2,326 housing units with a foreclosure filing); Florida (one in every 2,420 housing units); Maryland (one in every 2,566 housing units); South Carolina (one in every 2,588 housing units); and Illinois (one in every 2,727 housing units).
Lenders started the foreclosure process on 24,302 properties last month, up 12% from June and up 11% from July 2024. Lenders repossessed 3,866 properties through completed foreclosures (REOs) in July, a decrease of 1% month-over-month and an increase of 18% year-over-year.
“July’s foreclosure activity continues to trend upward year-over-year, with increases in both starts and completions,” said Rob Barber, CEO at ATTOM. “While rising home prices are helping many owners maintain equity, the steady climb in filings suggests growing pressure in some markets.”
