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U.S. foreclosure activity down 35% YOY in Q3

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Capital Markets View – January 2021


U.S. foreclosure activity down 35% YOY in Q3

The number of U.S. foreclosure filings in the third quarter fell to the lowest level since the second quarter of 2006, according to ATTOM Data Solutions' "Q3 2017 U.S. Foreclosure Market Report."

Total foreclosure filings in the quarter fell 13% from the second quarter and dropped 35% year over year. Foreclosure starts in the third quarter were down 7% quarter over quarter and 16% year over year, to the lowest level since ATTOM began tracking data in the second quarter of 2005.

While foreclosure activity was down nationwide, it was above pre-recession averages in 94 of the 217 metro markets covered by the report, including New York; Philadelphia; Washington, D.C.; Baltimore; and Virginia Beach, Va.

Foreclosure starts were up year over year in the third quarter in 51 metro areas, including Dallas-Fort Worth, Denver, Cincinnati, Cleveland and Columbus. Cities with the highest foreclosure rates included Atlantic City and Trenton in New Jersey; Cleveland; Fayetteville, N.C.; and Columbia, S.C.