According to ATTOM Data’s most recent U.S. Foreclosure Market Report, there were a total of 143,105 U.S. properties with foreclosure filings in Q3, 2019. That number was 6% lower than Q2 and down 19% from one year ago – which they say is represents the lowest level since 2005. In addition they report that Q3 2019 was the 12th consecutive quarter where foreclosure activity was below the pre-recession average.
The top 10 states states with the longest average foreclosure timelines for homes foreclosed in Q3 of 2019 were Indiana (1,633 days); Hawaii (1,626 days); Nevada (1,511 days); New Jersey (1,173 days); and Georgia (1,170 days); Florida (1,138 days); New York (1,103 days); Washington (1,002 days); Oklahoma (950 days); and Pennsylvania (914 days).
“Foreclosure activity continues to decline across the country, which is a good sign that the housing market and the broader economy remain strong – and that the lending excesses that helped bring down the economy during the Great Recession remain a memory,” said Todd Teta, chief product officer at ATTOM Data Solutions.