According to ATTOM’s Year-End 2024 U.S. Foreclosure Market Report, foreclosure filings—including default notices, scheduled auctions, and bank repossessions—were reported on 322,103 U.S. properties in 2024. This marks a 10% decrease from 2023 and a 35% drop from 2019 before the pandemic disrupted the housing market. Foreclosures are now 89% below the peak levels of 2010, reflecting a long-term decline in distressed property activity.
“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.”
Foreclosure Starts Decline in Most States
Lenders initiated 253,306 foreclosures in 2024, down 6% from 2023 but still 174% above 2021 levels when pandemic-era protections kept filings at historic lows. However, foreclosure starts remain 25% below 2019 and 88% below the 2009 peak.
The five states with the highest number of foreclosure starts were:
- California – 29,529
- Florida – 29,239
- Texas – 28,946
- New York – 14,436
- Illinois – 13,082
Where Foreclosure Rates Were the Highest
Certain states saw higher foreclosure rates than others in 2024. Florida and New Jersey recorded the highest foreclosure rates, with one in every 267 housing units facing a foreclosure filing. Nevada followed closely behind with one in every 273 housing units, while Illinois (one in 278) and South Carolina (one in 304) also had elevated foreclosure activity. Other states rounding out the top 10 included Connecticut, Maryland, Ohio, Indiana, and Delaware, all with foreclosure rates between one in 306 and one in 329 housing units.
Foreclosure activity continues to decline, suggesting a return to more predictable pre-pandemic levels. Industry experts credit responsible lending practices and homeowner resilience for reducing foreclosure filings. However, economic uncertainty and potential interest rate fluctuations could still impact foreclosure trends in the coming years.
For now, the data shows a housing market that is stabilizing, with distressed property levels far below historical peaks.
Access the full report here. To get the data behind the story, please contact one of our data experts.