Published by AttomData on July 17, 2020
U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — in the first six months of 2020, hit an all-time low with 165,530 filings reported.
According to ATTOM Data Solutions’ recently released Midyear 2020 U.S. Foreclosure Market Report, U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — in the first six months of 2020, hit an all-time low with 165,530 filings reported. Nationwide 0.12 percent of all housing units (a foreclosure rate of one in every 824 housing units) had a foreclosure filing in the first half of 2020.
ATTOM’s latest foreclosure activity report noted that counter to the national trend, 10 of the 220 metro areas analyzed in the midyear report showed increasing foreclosure activity compared to a year ago. Those areas included Stockton, California (up 161 percent); Chico, California (up 61 percent); McAllen, Texas (up 42 percent); Lake Havasu, Arizona (up 39 percent); and Fort Wayne, Indiana (up 21 percent).
The midyear foreclosure activity analysis reported that the states with the highest foreclosure rates in the first half of 2020 were Delaware (0.28 percent of housing units with a foreclosure filing); New Jersey (0.25 percent); Illinois (0.24 percent); Maryland (0.21 percent); and Connecticut (0.18 percent). Other states with first-half foreclosure rates among the 10 highest nationwide were South Carolina (0.18 percent); Florida (0.17 percent); Ohio (0.16 percent); North Carolina (0.14 percent); and Georgia (0.14 percent).
ATTOM’s midyear foreclosure market report stated that among the 220 metropolitan statistical areas with a population of at least 200,000, those with the highest foreclosure rates in the first half of 2020 were Peoria, Illinois (0.37 percent of housing units with foreclosure filings); Trenton, New Jersey (0.36 percent); Rockford, Illinois (0.36 percent); Atlantic City, New Jersey (0.32 percent); and Lake Havasu, Arizona (0.30 percent).
The report also noted that other metro areas with foreclosure rates ranking among the top 10 highest in the first half of 2020 were Fayetteville, North Carolina (0.27 percent of housing units with a foreclosure filing); Bakersfield, California (0.27 percent); Columbia, South Carolina (0.25 percent); Chicago, Illinois (0.25 percent); and Cleveland, Ohio (0.25 percent).
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