Foreclosure Activity Continues to Hit All-Time Lows
A new report shows there were a total of 9,702 U.S. properties with foreclosure filings was down from last month and on an annual basis. (ATTOM)
- M-O-M: Foreclosures were down 11% from December.
- Y-O-Y: Foreclosures were 80% from last year at the same time.
Nationwide one in every 14,164 housing units had a foreclosure filing in January 2021.
- States with the biggest annual decrease in REOs include Illinois down 86%, Florida down 83%, and Maryland also down 83%.
- States with the biggest foreclosure rates include Delaware which includes one in every 4,923 housing units with a foreclosure filing, Louisiana has one in every 6,581 housing units, and Florida has one in every 7,920 housing units.
Rick Sharga, RealtyTrac executive vice president, said in a statement, “The moratorium and CARES Act mortgage forbearance program have effectively prevented millions of seriously delinquent loans from entering the foreclosure process. But it’s important to remember that the number of foreclosures we’re seeing right now doesn’t reflect market reality