ATTOM Data Solutions’ just released Q1 and March 2021 U.S. Foreclosure Market Report reveals that U.S. foreclosure activity increased 9 percent from Q4 2020 to Q1 2021, but is still down 78 percent from Q1 2020. According to the analysis, in the first quarter of 2021, there were a total of 33,699 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions.
This latest foreclosure market analysis conducted by ATTOM also shows that foreclosure starts increased 3 percent from Q4 2020 to Q1 2021, but still down 78 percent from Q1 2020, with lenders starting the foreclosure process on 17,652 U.S. properties during the first quarter of 2021.
ATTOM’s Q1 2021 foreclosure market report noted the states with the greatest quarterly increases in foreclosure starts, among those with 500 or more foreclosure starts in Q1 2021, included California (up 36 percent); Ohio (up 25 percent); North Carolina (up 15 percent); Virginia (up 11 percent); and South Carolina (up 10 percent).
Also according to ATTOM’s latest foreclosure market analysis, nationwide one in every 4,078 housing units had a foreclosure filing in Q1 2021. The report notes the states with the highest foreclosure rates in in the first quarter of 2021 were Delaware (one in every 1,705 housing units with a foreclosure filing); Illinois (one in every 2,175 housing units); Florida (one in every 2,237 housing units); Indiana (one in every 2,397 housing units); and Ohio (one in every 2,500 housing units).
ATTOM’s Q1 2021 foreclosure market report also notes that among the 220 metro areas with a population of at least 200,000, those with the highest foreclosure rates in Q1 2021 were Lake Havasu City, Arizona (one in every 518 housing units); Provo, Utah (one in 1,280); McAllen, Texas (one in 1,297); Shreveport, Louisiana (one in 1,353); and Atlantic City, New Jersey (one in 1,441).
In this post, we take a deeper dive into the data behind ATTOM’s Q1 2021 foreclosure market report to uncover the top 10 U.S. zip codes with the highest foreclosure rates during the first quarter of 2021. Among those zips with 10,000 or more housing units in Q1 2021, the top 10 with the highest foreclosure rates include: 33870 in Sebring, FL (one in every 70 housing units); 86401 in Kingman, AZ (one in every 78 housing units); 60914 in Bourbonnais, IL (one in every 92 housing units); 32967 in Vero Beach, FL (one in every 217 housing units); 78573 in Mission, TX (one in every 354 housing units); 15120 in Homestead, PA (one in every 391 housing units); 44137 in Maple Heights, OH (one in every 397 housing units); 45405 in Dayton, OH (one in every 467 housing units); 41071 in Newport, KY (one in every 484 housing units); and 78542 in Edinburg, TX (one in every 513 housing units).
ATTOM’s latest foreclosure market analysis also reported that REOs increased 14 percent from Q4 2020 to Q1 2021, but were still down 87 percent from Q1 2020, with lenders repossessing 7,320 U.S. properties through foreclosure (REO) during the first quarter of 2021. Among those states with the greatest number of REOs in Q1 2021, were Florida (945 REOs); Illinois (610 REOs); California (414 REOs); Texas (370 REOs); and Arizona (330 REOs).
The report also noted that nationwide in March 2021, one in every 11,568 properties had a foreclosure filing, while states with the highest foreclosure rates in March 2021 were Delaware (one in every 5,037 housing units with a foreclosure filing); Illinois (one in every 6,119 housing units); Indiana (one in every 6,275 housing units); Ohio (one in every 6,569 housing units); and Florida (one in every 6,763 housing units).
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