ATTOM Data Solutions released its Nov. 2020 U.S. Foreclosure Market Report, and the data within showed foreclosures are down 14 percent from a month ago and 80 percent from a year ago.
“It’s not unusual to see foreclosure activity slow down beginning in November and through the holiday season,” said Rick Sharga, executive vice president at RealtyTrac, an ATTOM Data Solutions company.
Despite being down in the country as a whole in November, there are still some outliers where foreclosures were up. Foreclosures were up in Missouri, Indiana, Georgia, Arizona, and Texas.
Birmingham, Ala. had the lowest rate of foreclosures in November in areas with a population over one million, with only one in every 6,591 housing units.
A total of 5,256 U.S. properties started the foreclosure process in November 2020, down 13 percent from last month and down 79 percent from a year ago.
New York started the greatest number of foreclosures in November of all areas with a population over one million. The city began 454 foreclosures in the month.
Bank repossessions dropped 22 percent over the month and were down 86 percent from a year ago.