Foreclosure Filings Down in April
May 16, 2019
Foreclosure filings were reported on 55,646 residential properties in April 2019, down five percent from the previous month, according to new statistics from ATTOM Data Solutions. April’s foreclosure filing level was also a 13 percent drop from one year earlier, marking the 10th consecutive month with an annual decline.
Nationwide, one in every 2,433 housing units had a foreclosure filing in April. The states with the highest foreclosure rates were New Jersey (one in every 980 housing units with a foreclosure filing), Maryland (one in every 1,218 housing units), Delaware (one in every 1,249 housing units), Illinois (one in every 1,371 housing units) and Florida (one in every 1,415 housing units).
Lenders started the foreclosure process on 30,524 residential properties last month, down five percent from the previous month and down 10 percent from one year earlier. April was the third consecutive month with an annual decline in foreclosure starts. However, 17 states had an annual increase in foreclosure starts, most notably Washington (up 38 percent) and Florida (up 34 percent).
“While overall foreclosure activity is down nationwide, there are still parts of the country that we need to keep a close eye on,” said Todd Teta, chief product officer at ATTOM Data Solutions. “For instance, Florida is seeing a steady annual increase in total foreclosure activity for the 8th consecutive month, which is being sustained by a constant annual double-digit increase in foreclosure starts.”
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