ATTOM Reports Foreclosure Activity Declined in 2024

(Illustration courtesy of ATTOM)

ATTOM, Irvine, Calif., reported foreclosure filings–default notices, scheduled auctions and bank repossessions–were reported on 322,103 U.S. properties in 2024, down 10% from 2023 and down 35% from 2019, before the pandemic shook up the market.

Foreclosure filings in 2024 were also down 89% from a peak of nearly 2.9 million in 2010, ATTOM’s Year-End 2024 U.S. Foreclosure Market Report said.

Those 322,103 properties with foreclosure filings in 2024 represented 0.23% of all U.S. housing units, down slightly from 0.25% in 2023, and down from 0.36% in 2019 and down from a peak of 2.23% in 2010, the report said.

“The continued decline in foreclosure activity throughout 2024 suggests a housing market that may be stabilizing, even as economic uncertainties persist,” said Rob Barber, CEO at ATTOM. “This year’s data points to foreclosure trends potentially returning to more predictable levels, offering some clarity for industry professionals, investors, and homeowners.”

Barber noted foreclosure filings remain a critical metric for understanding market health, but said current trends may point to a more balanced landscape, “potentially shaped by careful lending practices and ongoing homeowner resilience.”

Foreclosure starts on the decline nationwide

Lenders started the foreclosure process on 253,306 U.S. properties last year, 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, ATTOM reported.

States that saw the greatest number of foreclosure starts in 2024 included California (29,529 foreclosure starts); Florida (29,239 foreclosure starts); Texas (28,946 foreclosure starts); New York (14,436 foreclosure starts); and Illinois (13,082 foreclosure starts).

Metropolitan statistical areas with a population exceeding one million people that saw the greatest number of foreclosure starts in 2024, included New York (15,327 foreclosure starts), Chicago (11,508 foreclosure starts), Houston (10,197 foreclosure starts), Los Angeles (8,790 foreclosure starts) and Miami (8,603 foreclosure starts).