Foreclosure Trend Reverses, Spikes in Many Cities
December 3, 2018
Foreclosure activity is on the rise in 15 states, bucking the national trend over the past few years. In October, foreclosure activity rose 55 percent in Florida, 50 percent in Georgia, 28 percent in Texas, and 24 percent in Michigan, among 11 other states experiencing sharp rises from a year ago, reports real estate research firm ATTOM Data Solutions.
Further, 84 of 219 metro areas—or 38 percent—posted year-over-year increases in foreclosure activity in October. In Houston, foreclosure activity surged 198 percent year over year, followed by Tampa-St. Petersburg, Fla. (up 67 percent) and Miami (up 55 percent). Overall, the metros with the highest foreclosure rates in October were:
- Atlantic City, N.J.
- Trenton, N.J.
- Lake Havasu, Ariz.
- Rockford, Ill.
- Reading, Pa.
“U.S. Foreclosure Activity Down From Year Ago in October But Up in 38 Percent of Local Markets,” ATTOM Data Solutions (Nov. 27, 2018)
Updated: May 18, 2019