According to the ATTOM Data’s Q1 2024 Foreclosure Report, there were 95,349 with a foreclosure filing during the first quarter of 2024, up 3% from the previous quarter but down less than 1 percent from one year ago. There were a total of 67,657 U.S. properties that started the foreclosure process in Q1 2024, up 2% from the previous quarter and up 4% from one year ago In addition, the report shows there were a total of 32,878 U.S. properties with foreclosure filings in March 2024, down less than 1 percent from the previous month and down 10% from one year ago.
Key Takeaways:
- Nationwide in March 2024, one in every 4,286 properties had a foreclosure filing.
- States with the highest foreclosure rates in March 2024 were Illinois (one in every 2,548 housing units with a foreclosure filing); Connecticut (one in every 2,609 housing units); New Jersey (one in every 2,638 housing units); Florida (one in every 2,779 housing units); and South Carolina (one in every 2,867 housing units).
- 23,312 U.S. properties started the foreclosure process in March 2024, up 3 percent from the previous month but down 4 percent from March 2023.
- Lenders completed the foreclosure process on 2,701 U.S. properties in March 2024, down 20 percent from the previous month and down 44 percent from March 2023.
“Q1 2024’s foreclosure data reveals a market in transition, with slight increases in filings and starts, alongside a notable decrease in REO properties…While foreclosures remain relatively stable, we’re closely monitoring these trends. Homeowners continue to hold significant equity, contributing to a persistently hot housing market.” Said Rob Barber, CEO of ATTOM.
Click here to read the full report at ATTOM.
