ATTOM’s newly released Year-End 2021 U.S. Foreclosure Market Report shows that foreclosure filings reported on U.S. properties in 2021 represented 0.11 percent of all housing units nationwide. The report noted that figure was down from 0.16 percent in 2020 and down from a peak of 2.23 percent in 2010.
According to ATTOM’s latest foreclosure activity report, the number of foreclosure filings was also down 29 percent from 2020 and down 95 percent from a peak of nearly 2.9 million in 2010, to the lowest level since tracking began in 2005.
ATTOM’s year-end foreclosure market analysis reported that in 2021, states with the highest foreclosure rates were Nevada (0.26 percent of housing units with a foreclosure filing); Illinois (0.23 percent); Florida (0.21 percent); Delaware (0.21 percent); and New Jersey (0.19 percent).
The report noted that rounding out the top 10 states with the highest foreclosure rates in 2021, were Ohio (0.18 percent); South Carolina (0.15 percent); Indiana (0.15 percent); Connecticut (0.13 percent); and Maryland (0.13 percent).
Also according to ATTOM’s latest foreclosure report, among the 220 metro areas with a population of at least 200,000, those with the highest foreclosure rates in 2021 were Cleveland, Ohio (0.37 percent of housing units with a foreclosure filing); Las Vegas, Nevada (0.31 percent); Lake Havasu, Arizona (0.30 percent); Peoria, Illinois (0.30 percent); and Atlantic City, New Jersey (0.29 percent).
The report also stated that among those metro areas with a population greater than 1 million, including Cleveland, Ohio and Las Vegas, Nevada, those with the highest foreclosure rates in 2021, were, Miami, Florida (0.25 percent); Jacksonville, FL (0.25 percent); and St. Louis, Missouri (0.22 percent).
In this post, we take a deeper dive into the data behind ATTOM’s year-end 2021 foreclosure market report to unveil the top 10 zip codes with the highest foreclosure rates among those with at least 1,000 housing units. Those top zips include: 62204 – East Saint Louis, IL (3.78 percent); 62203 – East Saint Louis, IL (3.19 percent); 62205 – East Saint Louis, IL (3.05 percent); 62207 – East Saint Louis, IL (2.93 percent); 62206 – East Saint Louis, IL (2.33 percent); 62201 – East Saint Louis, IL (1.78 percent); 62257 – Marissa, IL (1.77 percent); 77327 – Cleveland, TX (1.67 percent); 33870 – Sebring, FL (1.57 percent); and 44108 – Cleveland, OH (1.48 percent).
ATTOM’s most recent foreclosure market analysis also reported that lenders repossessed 25,662 properties through foreclosure (REO) in 2021. The report noted that number was down 49 percent from 2020 and 98 percent from a peak of 1,050,500 in 2010, to the lowest level as far back as data is available — 2006. According to the report, states that saw the greatest number of REOs in 2021 included Illinois (3,472 REOs); Florida (2,287 REOs); California (1,839 REOs); Pennsylvania (1,293 REOs); and Texas (1,236 REOs).
The year-end report also noted that lenders started the foreclosure process on 92,346 U.S. properties in 2021. The report stated that number was down 30 percent from 2020 and 96 percent from a peak of 2,139,005 in 2009, to a new all-time low going back as far as foreclosure starts data is available — 2006. Also according to the report, states that saw the greatest decline in foreclosure starts from 2020 included Maryland (down 81 percent); Oklahoma (down 70 percent); Idaho (down 64 percent); Nebraska (down 63 percent); and Connecticut (down 60 percent).
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