Midyear Foreclosure Filings Down 18 Percent
August 8, 2019
A total of 296,458 properties carried foreclosure filings in the first six months of 2019, according to statistics from ATTOM Data Solutions. This represents an 18 percent decline from the same period one year ago. A total of 177,015 properties started the foreclosure process in the first half of the year, down eight percent from the same period one year ago.
However, 36 of the 220 metro areas analyzed by ATTOM Data Solutions, or 16 percent, recorded a year-over-year increase in foreclosure activity in the first six months of this year, most notably Buffalo, N.Y. (up 33 percent), Orlando (up 32 percent) and Jacksonville, Fla. (up 18 percent). Nationwide 0.22 percent of all housing units–one in every 457–had a foreclosure filing in the first six months of the year.
“Our midyear 2019 foreclosure activity helps to show an overall view on how foreclosure activity is trending downward,” said Todd Teta, chief product officer at ATTOM Data Solutions. “Of course, you still have pockets across the nation where foreclosure activity is seeing some flare-ups. Foreclosure starts is a good indication of markets to watch. For instance, in looking at the largest markets across the nation with the greatest annual increase in foreclosure starts, four out of the five markets were in Florida. “
During the second quarter of the year, ATTOM Data Solutions determined that 152,760 properties had a foreclosure filing, down six percent from the previous quarter and down 19 percent from the previous year. The second quarter was the 11th consecutive quarter in which foreclosure activity was below the pre-recession average of 278,912 properties with foreclosure filings per quarter in 2006 and 2007.
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