Posted on Jul 11, 2019

Elliott Realty Services Inc

U.S. Foreclosures Drop 50% in a Year — But Not in Florida
By Florida Realtors News
ATTOM: Florida had the nation’s third-highest foreclosure rate (1 out of 1,238 housing units) in May, and its foreclosure starts (homes receiving a first notice) rose 23%.
IRVINE, Calif. – ATTOM Data Solutions’ May 2019 U.S. Foreclosure Market Report finds that foreclosure filings – default notices, scheduled auctions and bank repossessions – were up 1% from the previous month but down 22% year-to-year – the 11th consecutive month with an annual decline.

However, the reverse was true in Florida. New Jersey (one in every 1,117 housing units with a foreclosure filing), Maryland (one in every 1,127 housing units) and Florida (one in every 1,238 housing units) were the top three states for having the worst foreclosure rate.

“We are continuing to see a downward trend with overall foreclosure activity, especially in completed foreclosures declining year after year,” says Todd Teta, chief product officer at ATTOM Data Solutions. “However, in May 2019 we did see an uptick in the number of states increasing in foreclosure starts going from 17 to 23 states rising annually – and again Florida is bucking the national trend with a continuous annual increase.”

May 2019 foreclosure completions
Foreclosure completions declined annually in every state except Vermont. In some states the number of completed foreclosures has dropped dramatically.
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