Foreclosure activity across the U.S. was down in the third quarter, according to data released by real estate analytics company ATTOM. The firm’s Foreclosure Market Report found a total of 87,108 U.S. properties with foreclosure filings during the third quarter (Q3), down 2 percent from the previous quarter and down 13 percent from a year ago.
Utah, meanwhile, didn’t do so well. The state recorded 1,050 foreclosure filings in Q3, up 58.1 percent from the second quarter and 72.1 percent from Q3 2023.
The report also shows a total of 29,668 U.S. properties with foreclosure filings in September 2024, down 2 percent from the previous month and down 19 percent from a year ago.
“While we are seeing a decrease in foreclosure starts and repossessions, it’s crucial to remain vigilant, as any economic disruptions or changes in interest rates could shift the current trend,” said Rob Barber, CEO of ATTOM. “Moving forward, we anticipate foreclosure levels will stay relatively low, but there could be localized increases in areas struggling with affordability or other market pressures.”
Nationwide in September, one in every 4,750 properties had a foreclosure filing. States with the highest foreclosure rates in September 2024 were Illinois, Florida, Delaware, Nevada and Indiana.