Home / Daily Dose / Foreclosure Starts Reverse Course in September
Print This Post Print This Post

Foreclosure Starts Reverse Course in September

Citing the need to closely monitor foreclosure numbers after the Federal Foreclosure Moratorium expired in July, Black Knight has revealed a “first-look” at its data for September 2021. 

According to the preliminary release, the national delinquency rate fell to 3.91% in September, down 2.3% from August. This is the first time delinquency rates have been below 4% in the last 18 months. 

Black Knight said that this would have been a stronger improvement but was partially offset by delinquencies rising by 7,800 in FEMA-declared disaster areas in hurricane-impacted Louisiana and by 11,000 in the state as a whole. 

Foreclosure starts also plummeted 45.07% in September after seeing a noticeable rise in August in the wake of the federal foreclosure moratoria expiration. There was a total of 3,900 foreclosure starts in September, down 13.33% year-over-year. This was the third lowest monthly total on record and within 6% of the record low set back in April of this year 

In other first-look data: 

  • The number of properties that are more than 30 days past-due, but are not in foreclosure, are 2,068,000 which is down 54,000 from August and down 1,474,000 from last year. 
  • The number of properties that are more than 90 or more days past due, but are not in foreclosure, are 1,233,000 which is down 106,000 from last month and down 1,090,000 from last year. 
  • The number of properties that are more than 30 days past-due or are in foreclosure stands at 2,203,000. This is down 61,000 from last month and down 1,519,000 from last year. 
  • The number of properties in foreclosure pre-sale inventory stood at 135,000, down 7,000 units from August and down 46,000 units from last year. 

About Author: Kyle G. Horst

Kyle G. Horst is a reporter for DS News and MReport. A graduate of the University of Texas at Tyler, he has worked for a number of daily, weekly, and monthly publications in South Dakota and Texas. With more than 10 years of experience in community journalism, he has won a number of state, national, and international awards for his writing and photography including best newspaper design by the Associated Press Managing Editors Group and the international iPhone photographer of the year by the iPhone Photography Awards. He most recently worked as editor of Community Impact Newspaper covering a number of Dallas-Ft. Worth communities on a hyperlocal level. Contact Kyle G. at [email protected].

Check Also

Improving Affordability Fueled by Moderate Decline in Home Prices

"Our 2024 housing forecast reveals the green shoots we've been waiting to see in the housing market and should give buyers some optimism after a grueling few years," said Danielle Hale, Chief Economist for Realtor.com. "Moves of necessity are likely to drive home sales in 2024."