August 2024 saw 30,227 U.S. properties with foreclosure filings — default notices, scheduled auctions, or bank repossessions — down 5.3% from a month ago and down 11% from a year ago. That's according to ATTOM's August 2024 U.S. Foreclosure Market Report.
Nationwide, one in every 4,662 housing units had a foreclosure filing in August 2024. States with the highest foreclosure rates were Nevada (one in every 2,473 housing units with a foreclosure filing); Florida (one in every 2,605 housing units); Illinois (one in every 2,837 housing units); South Carolina (one in every 2,877 housing units); and New Jersey (one in every 3,227 housing units).
Among the 224 metropolitan statistical areas with a population of at least 200,000, those with the highest foreclosure rates in August 2024 were Lakeland, Fla. (one in every 1,245 housing units with a foreclosure filing); Chico, Calif. (one in every 1,526 housing units) and Columbia, S.C. (one in every 1,796 housing units).
Other than Las Vegas, those metropolitan areas with a population greater than 1 million with the worst foreclosure rates in August 2024 were Riverside, Calif. (one in every 2,423 housing units); Miami, Fla. (one in every 2,429 housing units); and Chicago, Ill. (one in every 2,450 housing units).
Lenders started the foreclosure process on 20,747 U.S. properties in August 2024, down 5.1% from last month and down 9.4% from a year ago. Florida saw the greatest number of foreclosure starts at 2,668 starts, and was followed by California (2,443 foreclosure starts); Texas (1,857 foreclosure starts); New York (1,328 foreclosure starts); and Illinois (1,208 foreclosure starts).
Lenders repossessed 2,889 U.S. properties through completed foreclosures (REOs) in August 2024, down 12% from last month and down 13.9% from a year ago.
States that had the greatest number of REOs in August 2024, included: Pennsylvania (266 REOs); California (229 REOs); Illinois (224 REOs); Michigan (206 REOs); and Florida (202 REOs).
