If you aren’t familiar with what a foreclosure start is, it’s the first public notice, which can be a notice of default, a lis pendens, or a notice of trustee sale depending on the state where the property is located. While foreclosures in general are not as prevalent as they were when the housing market crashed around 2008, they are still occurring.
ATTOM Data Solutions recently released its January 2019 foreclosure activity numbers, which breaks down the numbers as well as the areas. ATTOM looks at areas where completed foreclosures (REOs) are on the rise as well as overall foreclosure activity. This data can be drilled all the way down to the city level, to help spot possible areas of concerns or shed light on any strange activity. If you are interested in learning more about our foreclosure reporting, click here.
Foreclosure Starts by State
Just last month ATTOM Data released its year-end foreclosure report, which helped show the decline in foreclosure starts for the nation, year-over-year. While some states experienced an uptick in foreclosure starts from last year, including; Montana (up 48 percent); Minnesota (up 29 percent); Nebraska (up 28 percent); Texas (up 15 percent); and Florida (up 13 percent), for the most part the nation experienced a decline from last year and year’s before.
Counties in Chicago, Houston and Phoenix Leading in Foreclosure Starts
Fast forward to January 2019, to see counties that are starting of the new year in having the most foreclosure starts. ATTOM Data broke down the numbers and looked at those major counties with a population greater than 100,000, to see those counties that had the most foreclosure starts.
The county that took the top spot is Cook County, Illinois located in the Chicago metropolitan area with a total of 800 properties starting the foreclosure process in January 2019. This is followed by Harris County, Texas (569 foreclosure starts); Maricopa County, Arizona (479 foreclosure starts); Los Angeles, California (434 foreclosure starts); and Suffolk County, New York (346 foreclosure starts).
Top 20 Counties with the Most Foreclosure Starts
Foreclosure Starts Near You
Curious to know the overall trend in foreclosure starts? Want to drill down to see areas where foreclosure starts are occurring, to possibly see if you can find a deal? Contact us now!