Illinois has the lowest foreclosure rate
February saw a moderate drop in foreclosures – marking the eighth consecutive annual decrease in foreclosure activity, according to ATTOM Data Solutions’ recent Foreclosure Market Report.
The report showed a 3% drop from the previous month and an 11% year-over-year downturn from 2018. Only 54,783 US properties were listed as bank possessions, default notices, foreclosure filings or scheduled auctions. Banks repossessed 11,392 of these properties in February, down 7% from January and 12% from last year.
In addition, 29,735 US properties began the foreclosure process in February, increasing 1% from January but still 9% below the level from a year ago.
The report determined the total number of properties with at least one foreclosure filing recorded in the ATTOM Data Warehouse during the month and quarter. It was based on data gathered from over 2,200 counties in the US, which represented more than 90% of the population.
Overall, New Jersey had the highest foreclosure rate, with one in every 1,006 housing units in some stage of foreclosure.
