According to ATTOM‘s November 2024 U.S. Foreclosure Market Report, approximately 29,390 U.S. homes had foreclosure filings, such as default notices, scheduled auctions, or bank repossessions. This represents an estimated 9% decrease from the previous year and a 5% decrease from the previous month.
“The slight decline in U.S. foreclosure activity during November most likely reflects the seasonal ebb we often see this time of year,” said Rob Barber, CEO at ATTOM. “While foreclosure filings are down both month-over-month and year-over-year, the data highlights areas of the country, such as Nevada, Florida, and Connecticut, where foreclosure rates remain relatively high.”
Which States Have the Highest Foreclosure Rates?
In November 2024, there were foreclosure filings in one out of every 4,795 dwelling units nationwide.
The states that had the highest foreclosure rates were:
- Florida (one in every 3,047 housing units)
- Connecticut (one in every 3,210 housing units)
- Maryland (one in every 3,535 housing units)
- Nevada (one in every 2,941 housing units with a foreclosure filing)
- Indiana (one in every 3,567 housing units)
In November 2024, the metro statistical regions with the highest foreclosure rates among the 224 having a population of at least 200,000 were:
- Modesto, CA (one in every 1,890 housing units with a foreclosure filing)
- Reading, PA* (one in every 2,133 housing units)
- Bakersfield, CA (one in every 2,155 housing units)
- Riverside, CA (one in every 2,207 housing units)
- Chico, CA (one in every 2,270 housing units)
Note: *Reading, PA’s high foreclosure rate might be the result of data correction; ATTOM aggregator caught up on instances from October that had not been reported before, thus the increase might be due to backlogs rather than an unexpected spike in foreclosures.
As seen above, popular California metros lead in the highest foreclosure rates of the population analyzed, which may come as no surprise—as the Golden State is notably one of the most expensive places to live in the U.S.
Greatest Number of Foreclosure Starts Found in Larger U.S. States
In November 2024, lenders began the foreclosure process on 20,231 properties in the U.S., a decrease of 3% from the previous month and 10% from the previous year.
Yet again, the states with the highest number of foreclosures in November 2024 were:
- Texas (2,542 foreclosure starts)
- Florida (2,438 foreclosure starts)
- California (2,239 foreclosure starts)
- New York (1,167 foreclosure starts)
- Pennsylvania (844 foreclosure starts)
In November 2024, the following major metros with a population of one million or more experienced the highest share of foreclosure starts:
- New York (1,184 foreclosure starts)
- Houston (969 foreclosure starts)
- Miami (768 foreclosure starts)
- Philadelphia (723 foreclosure starts)
- Los Angeles (641 foreclosure starts)
Foreclosure Completions Tick Up from Last Year’s Numbers
In November 2024, 3,089 U.S. homes were seized by lenders through completed foreclosures (REOs), an increase of 21% from the previous year and 5% from the previous month.
In November 2024, the states with the highest number of REOs were:
- California (402 REOs)
- Texas (232 REOs)
- New York (223 REOs)
- Illinois (206 REOs)
- Pennsylvania (160 REOs)
The largest number of REOs in November 2024 occurred in significant metro statistical areas (MSAs) having a population of one million or more, including:
- New York (198 REOs)
- Chicago (177 REOs)
- Baltimore (88 REOs)
- San Francisco (83 REOs)
- Los Angeles (80 REOs)
No matter the state or metro, foreclosures may heighten or moderate in 2025 as the market remains unpredictable. However, per the report, due to seasonal influences, disclosure filings eased nationwide in November 2024.
“As we move into 2025, we’ll be closely monitoring how economic pressures and market dynamics may influence a potential rebound in activity,” Barber said.
To read the full report, including more data, charts, and methodology, click here.
