ATTOM: August Foreclosure Activity Down 24%, 14th Consecutive Monthly Decline

ATTOM Data Solutions, Irvine, Calif., reported 53,007 U.S. properties with foreclosure filings in August, up by 4 percent from July but down 24 percent from a year ago.

The company’s August Foreclosure Activity report said lenders started the foreclosure process for the first time on 27,886 property owners in August, up 7 percent from the previous month but down 15 percent from a year ago.

Nationwide, one in every 2,554 U.S. properties received a foreclosure filing during August.

ATTOM said states with the worst foreclosure rates in August were Delaware one in every 1,106 housing units), New Jersey (one in every 1,192) and Maryland (one in every 1,128). Among 53 metro areas with at least 1 million people, those with the highest foreclosure rates in August included Cleveland, Ohio; Jacksonville, Fla.; and Baltimore.

The report also noted lenders repossessed 11,493 U.S. properties in August, up 4 percent from the previous month but down 47 percent from a year ago, following 10 consecutive months of year-over-year decreases.

Hawaii (up 8 percent) was the only state to experience an annual increase in completed foreclosures in August. States with the greatest decreases in completed foreclosures in August included Kansas (down 92 percent); Mississippi (down 82 percent); Idaho (down 80 percent); Wyoming (down 79 percent); and Utah (down 79 percent).