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Didn’t Like October’s Foreclosure Spike? Here’s Good News…

Foreclosure Four BHThe number of homes in foreclosure continued to drop in November. According to the latest national foreclosure activity data from ATTOM Data Solutions, the 86,561 U.S. properties with foreclosure filings in November marks a decline of 18 percent from October and 17 percent from a year ago. Novembers drop also marked the 14th consecutive month with a year-over-year decrease and the largest month-over-month decrease since November 2010.

There were a little more than 35,000 new foreclosure filings in November, which was also down 17 percent compared to last year. November was the 17th straight month new filings decreased.

Thirty-two states posted year-over-year decreases in overall foreclosure activity, led by Florida, where foreclosures were down 33 percent. Michigan, Missouri, and Washington also saw double-digit declines.

Twenty-nine states posted year-over-year decreases in foreclosure starts. The largest drop was in North Carolina, where foreclosure starts dropped 54 percent since last year. Louisiana and Colorado also dropped more than 40 percent.

About 32,000 properties were repossessed by lender (REO) in November, down 7 percent from the previous month, and down 21 percent from a year ago, ATTOM reported. November was the ninth consecutive month with a year-over-year decrease in REOs.

The same number of properties were scheduled for a future public foreclosure auction, down 28 percent from the previous month and 13 percent from a year ago. November was the 17th consecutive month with a year-over-year decrease in scheduled foreclosure auctions and the monthly drop was the largest month-over-month decrease on record.

Thirty-two states posted year-over-year decreases in scheduled foreclosure auctions in November. Maryland had the biggest decrease, 38 percent, followed by Indiana (down 23 percent), Illinois (down 19 percent), Alabama (down 16 percent), and Ohio (down 10 percent).

About Author: Scott Morgan

Scott Morgan is a multi-award-winning journalist and editor based out of Texas. During his 11 years as a newspaper journalist, he wrote more than 4,000 published pieces. He's been recognized for his work since 2001, and his creative writing continues to win acclaim from readers and fellow writers alike. He is also a creative writing teacher and the author of several books, from short fiction to written works about writing.
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