Foreclosure starts fell in November, ATTOM reports
After rising 13% in October, foreclosure starts reversed course completely in November, falling 13, ATTOM Data Solutions reports.
November’s total is also down 11% from last year. Bank repossessions are up 4% from last month and up 22% from last year.
Lenders repossessed 13,996 U.S. properties (REOs) in November.
Despite the national trend, 16 states posted year over year decreases in REOs in November. Utah was down 37%; Oregon was down 36%; Nevada was down 31%; Connecticut was down 27% and South Dakota was down 23%.
In November, there were 49,898 U.S. properties with foreclosure filings. Compared to October, it’s down 10% and also down 6% from last year.
To break it down even more, this means that one in every 2,713 properties had a foreclosure filing in November.
There were 16 states that posted year over year increases in foreclosure starts. Notably, Indiana was up 77%; Utah was up 44%; Nebraska was up 44% and Delaware was up 41%.
The states with the highest foreclosure filings were Delaware, New Jersey and Maryland. Each state had one in every 1,112 housing units, 1,278 housing units and 1,476 housing units, respectively.
Among metro areas that have at least 200,000 people, Buffalo, New York had a foreclosure in one in every 798 housing units; Atlantic City, New Jersey had one in every 968 housing units; Columbia, South Carolina had one in every 1,082 housing units; Fayetteville, North Carolina had one in every 1,134 housing units and Trenton, New Jersey had one in every 1,146 housing units.
Among metros with at least 1 million people, Jacksonville, Florida had a foreclosure in one in every 1,172 housing units; Cleveland had one in every 1,279 housing units; Baltimore had one in every 1,307 housing units and Philadelphia had one in every 1,343 housing units.