Where Is The Highest Foreclosure Activity In The US? It’s In Places You Would Least Expect.

Where is the highest foreclosure activity in the US? ATTOM’s July 2024 U.S. Foreclosure Market Report reports there are a total of 31,929 properties in foreclosure. This includes default notifications and scheduled auctions. It also includes bank repossessions. This represents a 15% increase rise of 15% from June and a marginal increase of 0.2% from July 2023.

ATTOM’s data shows that one in every 4,414 housing units nationwide was in some stage of foreclosure July 2024. ATTOM says these are the states with the highest foreclosures in July 2024:

• Delaware  had one foreclosure for every 2,214 housing units.
• Nevada had one for every 2,245 housing units.
• Utah had one for every 2,289 housing units.
• New Jersey had one for every 2,607 housing units.
• Illinois had one for every 2,660 housing units. 

The report also stated that the 224 metropolitan statistical areas with populations of at least 200,000 with the highest foreclosure activity:

• Provo-Orem, UT: 1 per 940 housing units.
• Macon, GA: 1 per 1,167.
• Spartanburg, SC 1 per 1,895.
• Columbia, SC 1 per 1,587.
• Atlantic City-Hammonton, NJ: 1 per 1,910.

States With The Highest Foreclosure Starts

Additionally, lenders in the United States began the foreclosure process on 21,870 houses. This is an increase of 18% from the previous month and a 4% from July 2023. In July 2024, the states with the most foreclosure starts were:

• Florida with 2,339 foreclosure starts.
• Texas with 2,222 foreclosure starts
• Illinois  with 1,221 foreclosure starts.
• New York with 1,145 foreclosure starts.
• California with 2,342 foreclosure starts.

ATTOM’s July 2024 foreclosure research also shows lenders completed 3,282 REOs in the U.S. in July. This is a 2% reduction from the prior year but a 14% increase from the previous month.

In addition, data also showed these states had the most REOs:

• New York had 377 REOs.
• California had 370 REOs.
• Illinois had 221 REOs.
• Pennsylvania had 219 REOs.
• Michigan had 212 REOs

ATTOM’s report also revealed the top 10 U.S. counties that had the highest foreclosure rates in July 2024:

1. Bibb County, GA (one in every 909 housing units with a foreclosure filing)
2. Utah County, UT (one in every 921 housing units)
3. Charles County, MD (one in every 1,299 housing units)
4. Sussex County, NJ (one in every 1,363 housing units)
5. Lake County, IN (one in every 1,445 housing units)
6. Warren County, NJ (one in every 1,453 housing units)
7. Ascension County, LA (one in every 1,471 housing units)
8. Richland County, SC (one in every 1,498 housing units)
9. Osceola County, FL (one in every 1,509 housing units)
10. Delaware County, PA (one in every 1,537 housing units)

To read the full report, including more data, charts, and methodology, click here.

Also, Read More About Foreclosures And Mortgage Information On MFI-Miami.com