Foreclosure Filings Ease Nationwide in November 2024 Amid Seasonal Influences

ATTOM, a leading curator of land, property data, and real estate analytics, today released its November 2024 U.S. Foreclosure Market Report, which shows there were a total of 29,390 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions – down 9 percent from a year ago, and down 5 percent from the prior month.

“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.”

Highest foreclosure rates in Nevada, Florida, and Connecticut

Nationwide one in every 4,795 housing units had a foreclosure filing in November 2024. 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).

Among the 224 metropolitan statistical areas with a population of at least 200,000, those with the highest foreclosure rates in November 2024 were Modesto, CA (one in every 1,890 housing units with a foreclosure filing); Reading, PA* (one in every 2,133 housing units); Bakersfield, CA (one in every 2,155 housing units); Riverside, CA (one in every 2,207 housing units); and Chico, CA (one in every 2,270 housing units).

Those metropolitan areas with a population greater than 1 million, with the worst foreclosure rates in November 2024, including Riverside, CA were: Cleveland, OH (one in every 2,385 housing units); Philadelphia, PA (one in every 2,414 housing units); Miami, FL (one in every 2,551 housing units); and Las Vegas, NV (one in every 2,645 housing units).

Greatest number of foreclosure starts still in Texas, Florida, California, and New York

Lenders started the foreclosure process on 20,231 U.S. properties in November 2024, down 3 percent from last month and down 10 percent from a year ago.

States that had the greatest number of foreclosure starts in November 2024 again included: Texas (2,542 foreclosure starts); Florida (2,438 foreclosure starts); California (2,239 foreclosure starts); New York (1,167 foreclosure starts); and Pennsylvania (844 foreclosure starts).

Those major metropolitan areas with a population greater than 1 million that had the greatest number of foreclosure starts in November 2024 included: New York, NY (1,184 foreclosure starts); Houston, TX (969 foreclosure starts); Miami, FL (768 foreclosure starts); Philadelphia, PA (723 foreclosure starts); and Los Angeles, CA (641 foreclosure starts).

Foreclosure completions up 21 percent from last year

Lenders repossessed 3,089 U.S. properties through completed foreclosures (REOs) in November 2024, up 5 percent from last month and up 21 percent from last year.

States that had the greatest number of REOs in November 2024, included: California (402 REOs); Texas (232 REOs); New York (223 REOs); Illinois (206 REOs); and Pennsylvania (160 REOs).

Those major metropolitan statistical areas (MSAs) with a population greater than 1 million that saw the greatest number of REOs in November 2024 included: New York, NY (198 REOs); Chicago, IL (177 REOs); Baltimore, MD (88 REOs); San Francisco, CA (83 REOs); and Los Angeles, CA (80 REOs).