Residential Foreclosure Rates Drop 20 Percent In 3rd Quarter Across USA

Attom Data Solutions Says Residential Foreclosure Rates Dropped 20% On Average. 

residential foreclosure rates

A new report from Attom Data Solutions indicates residential home foreclosure rates dropped 20% in the third quarter. The report shows the New York metro area, South Florida and Los Angeles all showed double-digit declines.

Attom says 143,105 properties had foreclosure filings from July through September of this year. This is down from nearly 172,000 over the same period last year. The numbers include default notices, scheduled auctions or bank repossessions. The reports also indicate foreclosure rates are at the lowest level since the second quarter of 2005.

Foreclosure reports from month to month can be volatile. However, the data could indicate the market is not at the level of distress it was prior to the last recession. It could also mean that despite numerous indicators showing a slowdown in the housing market, borrowers have yet to default on their payments.

Read more at MFI-Miami

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s