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According to ATTOM Data’s Year-End 2024 U.S. Foreclosure Market Report, there were 322,103 U.S. properties with foreclosure filings (default notices, scheduled auctions or bank repossessions) – representing 0.23% of all U.S. housing units, down slightly from 2023 and down from a peak of 2.23% in 2010. In addition, lenders started the foreclosure process on 253,306 properties in 2024, down 6% from 2023, up 174% from 2021, but down 25% form 2019 and down 88% from a peak of 2,139,005 in 2009.
The continued decline in foreclosure activity throughout 2024 suggests a housing market that may be stabilizing, even as economic uncertainties persist…This year’s data points to foreclosure trends potentially returning to more predictable levels, offering some clarity for industry professionals, investors, and homeowners. While foreclosure filings remain a critical metric for understanding market health, current trends may point to a more balanced landscape, potentially shaped by careful lending practices and ongoing homeowner resilience.” Said Rob Barber, CEO at ATTOM.
As for December 2024, ATTOM says the U.S. housing market experienced a slight decline in foreclosure activity with 28,632 properties with foreclosure filings (one in every 4,922 properties) – marking a 3% decline from the previous month and 6% decline from a year ago. Foreclosure starts totaled 19,376 properties, down 4% from the previous month and 5% from December 2023, while completed foreclosures decreased by 4% monthly and 16% annually.
Click here to read the full report at ATTOM.
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