The number of U.S. properties with default notices, scheduled auctions or bank repossessions dropped 18 percent during the first six months of 2019, according to a report from ATTOM Data Solutions.
The 296,458 U.S. properties with foreclosure filings during the first half of the year is down 82 percent from a peak of 1,654,634 foreclosure filings in the first six months of 2010.
“Our mid-year 2019 foreclosure activity helps to show an overall view on how foreclosure activity is trending downward,” ATTOM Chief Product Officer Todd Teta said in a release. “Of course, you still have pockets across the nation where foreclosure activity is seeing some flare-ups.
“Foreclosure starts is a good indication of markets to watch,” Teta added. “For instance, in looking at the largest markets across the nation with the greatest annual increase in foreclosure starts, 4 out of the 5 markets were in Florida.”
According to the report, 16 percent of the metropolitan statistical areas analyzed had year-over-year increases in foreclosure activity in the first six months of 2019, including Buffalo, N.Y. (up 33 percent); Orlando, Fla. (up 32 percent); Jacksonville, Fla. (up 18 percent); Miami (up 7 percent); and Tampa-St. Petersburg, Fla. (up 5 percent).
ATTOM said the states with the highest foreclosure rates in the first half of 2019 were New Jersey (0.54 percent); Delaware (0.46 percent); Maryland (0.43 percent); Florida (0.39 percent); and Illinois (0.38 percent).
The metropolitan areas with the highest foreclosure rates in the first half of 2019 were Atlantic City, N.J. (0.92 percent); Jacksonville 0.54 percent); Trenton, N.J. (0.52 percent); Rockford, IIl.(0.51 percent); and Lakeland, Fla. (0.51 percent).