A total of 31,929 properties in the U.S. have foreclosure filings, including default notifications, scheduled auctions, or bank repossessions, according to ATTOM’s July 2024 U.S. Foreclosure Market Report. This represents a rise of 15% from the previous month and a marginal increase of 0.2% from the same time last year.
According to ATTOM’s most recent survey of foreclosure activity, in July 2024, one in every 4,414 housing units nationwide had a foreclosure filing. Delaware (one foreclosure for every 2,214 housing units), Nevada (one for every 2,245), Utah (one for every 2,289), New Jersey (one for every 2,607), and Illinois (one for every 2,660) were the states with the greatest rates of foreclosure.
The report also stated that in July 2024, out of the 224 metropolitan statistical areas with populations of at least 200,000, Provo-Orem, UT had the highest foreclosure rates (one per 940 housing units), followed by Macon, GA (one per 1,167), Spartanburg, SC (one per 1,895), Columbia, SC (one per 1,587), and Atlantic City-Hammonton, NJ (one per 1,910).
Additionally, the research states that in July 2024, lenders in the United States began the foreclosure process on 21,870 houses, an increase of 18% from the previous month and 4% from the same period the previous year. In July 2024, the states with the most foreclosure starts were Florida (2,339), Texas (2,222), Illinois (1,221), New York (1,145), and California (2,342).
According to ATTOM’s July 2024 foreclosure research, lenders completed 3,282 REOs in the U.S., which is a 2% reduction from the prior year but a 14 percent increase from the previous month. In July 2024, New York had the most REOs (377), followed by California (370), Illinois (221), Pennsylvania (219), and Michigan (212).
ATTOM’s July 2024 foreclosure report revealed the top 10 U.S. counties with a population of at least 100,000 that had the highest foreclosure rates in July 2024, including:
- 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)
- Delaware County, PA (one in every 1,537 housing units)
Highest Share of Foreclosure Starts in California, Florida, and Texas
In July 2024, lenders began the foreclosure process on 21,870 properties in the U.S., an increase of 18% from the previous month and 4% from the previous year.
California (2,342 foreclosure starts), Florida (2,339 foreclosure starts), Texas (2,222 foreclosure starts), Illinois (1,221 foreclosure starts), and New York (1,145 foreclosure starts) were the states with the highest number of foreclosure starts in July 2024.
New York (1,286 foreclosure starts), Chicago (1,555 foreclosure starts), Philadelphia (782 foreclosure starts), Miami (758 foreclosure starts), and Los Angeles (689 foreclosure starts) were the major metropolitan areas with a population of more than one million that had the highest number of foreclosure starts in July 2024.
Share of Foreclosure Completions Increases from Last Month
In July 2024, lenders completed 3,282 REOs in the United States, up 14% from the previous month and down 2% from the previous year.
States that had the greatest number of REOs in July 2024, included: New York (377 REOs); California (370 REOs); Illinois (221 REOs); Pennsylvania (219 REOs); and Michigan (212 REOs).
Those major metropolitan statistical areas (MSAs) with a population greater than 1 million that saw the greatest number of REOs in July 2024 included: New York (271 REOs); Chicago (136 REOs); San Francisco (104 REOs); Detroit (100 REOs); and Los Angeles (97 REOs).
To read the full report, including more data, charts, and methodology, click here.
