January 2019 Foreclosure Filings See an Uptick

ATTOM Data Solutions, curator of the nation’s premier property database, released its January 2019 foreclosure activity (State/MSA/County/ZIP and City code data available). Nationally there were a total of 56,251 U.S. properties with foreclosure filings in January 2019, up 8 percent from the previous month but down 19 percent from a year ago — the 7^th consecutive month with a year-over-year decrease in foreclosure activity and a foreclosure rate of one in every 2,407 U.S. housing units with a foreclosure filing.

However, counter to the national trend, 60 of the 220 major metro areas analyzed in the report posted a year-over-year increase in foreclosure activity in January 2019, including Orlando, Florida (up 72 percent); Austin, Texas (up 60 percent); Miami, Florida (up 41 percent); San Diego, California (up 12 percent); and Seattle, Washington (up 10 percent)

Foreclosure Starts Increase in Florida, Texas and Washington

A total of 29,382 U.S. properties started the foreclosure process in January 2019, up 4 percent from the previous month and 2 percent from January 2018 — the 2^nd consecutive month with a year-over-year increase in foreclosure starts.

25 states including DC posted annual increases in foreclosure starts. States including Florida (up 91 percent); Texas (up 50 percent); Washington (up 41 percent); Hawaii (up 31 percent); and Arizona (up 28 percent).

Completed Foreclosures Decline 54 Percent Annually

Lenders repossessed 12,228 U.S. properties via foreclosure (REO) in January 2019, up 18 percent from the previous month but down 54 percent from a year ago — the 3^rd consecutive month with a year-over-year decrease in REOs.

However, counter to the national trend, some major metros analyzed did see annual increases in completed foreclosures. Some of those areas include Deltona-Daytona Beach, Florida (up 65 percent); Austin, Texas (up 55 percent); Dayton, Ohio (up 50 percent); Palm Bay, Florida (up 48 percent); and Orlando, Florida (up 25 percent).

If you are interested in a more in-depth data analysis on ATTOM Data’s foreclosure activity, which is available at the State, MSA, County, ZIP and City level and broken out by various foreclosure filings, contact us now!