Top 10 Counties with Highest Foreclosure Rates in July 2024
Industry Update
August 16, 2024
Source: ATTOM
According to ATTOM’s just released July 2024 U.S. Foreclosure Market Report, a total of 31,929 properties in the U.S. had foreclosure filings, including default notices, scheduled auctions, or bank repossessions. This marks a 15 percent increase from the previous month and a slight 0.2 percent rise compared to the same period last year.
ATTOM’s latest foreclosure activity analysis reported that across the nation, one in every 4,414 housing units had a foreclosure filing in July 2024. The states with the highest foreclosure rates were Delaware (one in every 2,214 housing units), Nevada (one in every 2,245), Utah (one in every 2,289), New Jersey (one in every 2,607), and Illinois (one in every 2,660).
The report also noted that among the 224 metropolitan statistical areas with populations of at least 200,000, the highest foreclosure rates in July 2024 were recorded in Provo-Orem, UT (one in every 940 housing units), Macon, GA (one in every 1,167), Columbia, SC (one in every 1,587), Spartanburg, SC (one in every 1,895), and Atlantic City-Hammonton, NJ (one in every 1,910).
Also, according to the report, in July 2024, lenders initiated the foreclosure process on 21,870 properties across the U.S., marking an 18 percent increase from the previous month and a 4 percent rise compared to the same time last year. The states with the highest number of foreclosure starts in July 2024 were California (2,342), Florida (2,339), Texas (2,222), Illinois (1,221), and New York (1,145).
ATTOM’s July 2024 foreclosure analysis also revealed that lenders repossessed 3,282 U.S. properties through completed foreclosures (REOs), representing a 14 percent increase from the previous month but a 2 percent decrease from the previous year. The states with the highest number of REOs in July 2024 were New York (377), California (370), Illinois (221), Pennsylvania (219), and Michigan (212).
In this post, we take a more granular look by diving deep into the data behind ATTOM’s July 2024 foreclosure report to uncover the top 10 U.S. counties with a population of at least 100,000 that had the highest foreclosure rates in July 2024. Those counties include: Bibb County, GA (one in every 909 housing units with a foreclosure filing); Utah County, UT (one in every 921 housing units); Charles County, MD (one in every 1,299 housing units); Sussex County, NJ (one in every 1,363 housing units); Lake County, IN (one in every 1,445 housing units); Warren County, NJ (one in every 1,453 housing units); Ascension County, LA (one in every 1,471 housing units); Richland County, SC (one in every 1,498 housing units); Osceola County, FL (one in every 1,509 housing units); and Delaware County, PA (one in every 1,537 housing units).
For full report, please click the source link above.