US Foreclosure Filings Rise 13 Percent Over Last Year

The latest data from ATTOM reveals that 25,894 properties entered the foreclosure process last month, a 7 percent annual rise. Bank repossessions, or REOs, saw an even steeper climb, jumping 42 percent to reach 5,794 properties. Despite this upward pressure, the broader market continues to show resilience.

South Carolina recorded the highest foreclosure rate in the country, with one in every 1,547 housing units affected. Nevada and Florida followed closely behind. At the metropolitan level, Columbia, South Carolina, topped the list with the highest density of filings. Conversely, some regions bucked the national trend; cities like Cleveland, Ohio, and Washington, D.C., saw notable year-over-year declines in foreclosure starts.

Rob Barber, CEO of ATTOM, noted that while some homeowners are navigating persistent financial strain, the current housing landscape avoids the volatility of previous cycles. Texas remains the epicenter for completed repossessions, accounting for a significant portion of the 5,794 national total, with Houston and Dallas leading the metropolitan count.