Foreclosure Activity in the US Housing Market Is Down Year-Over-Year

In a positive sign for the U.S. housing market, foreclosure activity has dropped year-over-year. According to real estate data provider ATTOM, there were a total of 177,431 properties with foreclosure filings in the first six months of 2024. That figure is down 4.4% from the same period last year. However, compared with the same period two years ago, foreclosure filings have increased 7.8%. 

Additionally, foreclosure activity was more prevalent in some parts of the country than others. States that experienced the greatest increases in foreclosure activity compared with one year ago include South Dakota, North Dakota, and Kentucky. These states saw foreclosure filings increase by 93%, 86%, and 73%, respectively.

“In contrast to the first half of 2023, foreclosure activity across the United States experienced a decline in the first half of 2024,” stated Rob Barber, CEO for ATTOM. “In addition, U.S. foreclosure starts also decreased by 3 percent in the first six months of 2024.  These shifts could suggest a potential stabilization in the housing market; however, monitoring these evolving patterns remains crucial to understanding the full impact on the real estate sector.”

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