A total of 29,390 residential properties carried foreclosure filings in November, down 5% from the previous month and down 9% from one year earlier.
According to new data from ATTOM, one in every 4,795 housing units had a foreclosure filing last month. The states with the highest foreclosure rates were in: Nevada (one in every 2,941 housing units with a foreclosure filing); Florida (one in every 3,047 housing units); Connecticut (one in every 3,210 housing units); Maryland (one in every 3,535 housing units); and Indiana (one in every 3,567 housing units).
Lenders started the foreclosure process on 20,231 properties last month, down 3% month-over-month and down 10% year-over-year. Lenders repossessed 3,089 properties through completed foreclosures (REOs) in November, up 5% from October and up 21% from November 2023.
“The slight decline in U.S. foreclosure activity during November most likely reflects the seasonal ebb we often see this time of year,” said Rob Barber, CEO at ATTOM. “While foreclosure filings are down both month-over-month and year-over-year, the data highlights areas of the country, such as Nevada, Florida, and Connecticut, where foreclosure rates remain relatively high. As we move into 2025, we’ll be closely monitoring how economic pressures and market dynamics may influence a potential rebound in activity.”
