In yet another strong housing related report, foreclosure activity dropped for the 10th consecutive month.
The April 2019 U.S. Foreclosure Market Report, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 55,646 U.S. properties in April 2019, down 5 percent from the previous month and down 13 percent from a year ago for the 10th consecutive month with an annual decline.
“While overall foreclosure activity is down nationwide, there are still parts of the country that we need to keep a close eye on,” said Todd Teta, chief product officer at ATTOM Data Solutions. “For instance, Florida is seeing a steady annual increase in total foreclosure activity for the 8th consecutive month, which is being sustained by a constant annual double-digit increase in foreclosure starts.”
Lenders started the foreclosure process on 30,524 U.S. properties in April 2019, down 5 percent from last month and down 10 percent from April 2018 –third consecutive month with an annual decline.
States that posted annual decreases in foreclosure starts in April 2019, included New York (down 43 percent); Nevada (down 36 percent); Colorado (down 34 percent); Maryland (down 31 percent); and Michigan (down 25 percent).
Those major metropolitan statistical areas with a population greater than 500,000 that saw a large annual increase in foreclosure starts from last year included Orlando, Florida (up 90 percent); Miami, Florida (up 45 percent); Columbus, Ohio (up 35 percent); Portland, Oregon (up 31 percent); and El Paso, Texas (up 22 percent).