Foreclosures Ease in November

November foreclosure filings—default notices, scheduled auctions or bank repossessions—are on the decline, down 9% from a year ago, and 5% from the prior month, according to real estate data and analytics firm, ATTOM.

According to the report, nationwide, one in every 4,795 housing units had a foreclosure filing in November 2024. States with the highest foreclosure rates were in: Nevada (one in every 2,941 housing units with a foreclosure filing); Florida (one in every 3,047 housing units); Connecticut (one in every 3,210 housing units); Maryland (one in every 3,535 housing units); and Indiana (one in every 3,567 housing units).

Among the 224 metropolitan statistical areas with a population of at least 200,000, those with the highest foreclosure rates in November 2024 were Modesto, California (one in every 1,890 housing units with a foreclosure filing); Reading, Pennsylvania (one in every 2,133 housing units); Bakersfield, California (one in every 2,155 housing units); Riverside, California (one in every 2,207 housing units); and Chico, California (one in every 2,270 housing units).

Those metropolitan areas with a population greater than 1 million, with the worst foreclosure rates in November 2024, including Riverside, California were: Cleveland, Ohio (one in every 2,385 housing units); Philadelphia, Pennsylvania (one in every 2,414 housing units); Miami, Florida (one in every 2,551 housing units); and Las Vegas, Nevada (one in every 2,645 housing units).

Lenders started the foreclosure process on 20,231 U.S. properties in November 2024, down 3% from last month and down 10% from a year ago.

States that had the greatest number of foreclosure starts in November 2024 again included: Texas (2,542 foreclosure starts); Florida (2,438 foreclosure starts); California (2,239 foreclosure starts); New York (1,167 foreclosure starts); and Pennsylvania (844 foreclosure starts).

Those major metropolitan areas with a population greater than 1 million that had the greatest number of foreclosure starts in November 2024 included: New York, New York (1,184 foreclosure starts); Houston, Texas (969 foreclosure starts); Miami, Florida (768 foreclosure starts); Philadelphia, Pennsylvania (723 foreclosure starts); and Los Angeles, California (641 foreclosure starts).