A total of 31,649 properties had foreclosure filings—default notices, scheduled auctions or bank repossessions—in April 2024, according to the latest data from ATTOM.
ATTOM’s Foreclosure Market Report for April 2024 found that foreclosure filings were down 4% from a month ago, and down 4% from a year ago. On the other hand, the report found that lenders repossessed 2,904 properties through completed foreclosures (REOs), up 8% from last month but down less than 1% from last year.
Key highlights:
- Among the 224 metro areas with a population of at least 200,000, those with the highest foreclosure rates were Elkhart, Indiana (1 in every 1,565 housing units); Columbia, South Carolina (1 in every 1,689); Cleveland, Ohio (1 in every 1,859); Lakeland, Florida (1 in every 1,861); and Flint, Michigan (1 in every 1,998).
- Among those metro areas with a population greater than 1 million, those with the worst foreclosure rates included Baltimore, Maryland (1 in every 2,096 housing units); Chicago, Illinois (1 in every 2,189); Orlando, Florida (1 in every 2,199); and Jacksonville, Florida (1 in every 2,237).
- Lenders started the foreclosure process on 21,753 U.S. properties, down 7% from last month and down 3% from a year ago.
- Nationwide one in every 4,453 housing units had a foreclosure filing in April. States with the highest foreclosure rates were Maryland (1 in every 2,214 housing units); Illinois (1 in every 2,517); Nevada (1 in every 2,546); South Carolina (1 in every 2,573); and Florida (1 in every 2,854).
- States that had at least 100 foreclosure starts and saw the greatest monthly decline included New Jersey (down 51%), Indiana (down 32%), Colorado (down 31%), Massachusetts (down 21%) and Connecticut (down 20%).
- Counter to the national trend, those states that had at least 100 foreclosure starts and saw the greatest monthly increase included Maryland (up 85%), Oregon (up 80%), Oklahoma (up 65%), Mississippi (up 38%) and Michigan (up 25%).
- Those major metro areas with a population greater than 1 million that had the greatest number of foreclosure starts included Chicago, Illinois (1,211); New York, NY (1,141); Houston, Texas (1,068); Miami, Florida (751); and Los Angeles, California (652).
- In terms of completed foreclosures (REOs), states that had the greatest number of REOs included Illinois (244), Pennsylvania (241), California (233), New York (225) and Maryland (200).
- Those major metro areas with a population greater than 200,000 that saw the greatest number of REOs included New York, New York (157); Chicago, Illinois (150); Baltimore, Maryland (95); Washington, D.C. (88); and Philadelphia, Pennsylvania (74).
Major takeaway:
“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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