Residential News »Irvine Edition | By Monsef Rachid | May 16, 2019.

Yet Foreclosure Spike Starts in Washington, Florida, Oregon and Louisiana

According to ATTOM Data Solutions April 2019 US Foreclosure Market Report, US foreclosure filings - default records, auctions and bank repossessions - were reported on 55,646 US properties in April 2019, down from 13 percent from year ago for the 10th consecutive month with an annual decline.

"While overall foreclosure activity is down nationwide," said Todd Teta, chief product officer at ATTOM Data Solutions. "For instance, Florida is seeing a steady annual increase in total foreclosure activity for the 8th consecutive month, which is being sustained by a constant annual double-digit increase in foreclosure starts."

Foreclosure starts growing annually in 17 states

Lenders started the foreclosure process on 30,524 US properties in April 2019, down from 5 percent from last month and down 10 percent from April 2018 -third consecutive month with an annual decline.

States that posted annual decreases in foreclosure starts in April 2019, included New York (down 43 percent); Nevada (down 36 percent); Colorado (down 34 percent); Maryland (down 31 percent); and Michigan (down 25 percent).

Those major metropolitan statistical areas with a population greater than 500,000 Orlando, Florida (up 90 percent); Miami, Florida (up 45 percent); Columbus, Ohio (up 35 percent); Portland, Oregon (up 31 percent); and El Paso, Texas (up 22 percent).

Counter to the national trend 17 states had an annual increase in foreclosure starts. Those states included Washington (up 38 percent); Florida (up 34 percent); Oregon (up 22 percent); Louisiana (up 12 percent); and Georgia (up 11 percent).

Highest foreclosure rates in New Jersey, Maryland and Delaware

Nationwide one in every 2,433 housing units had a foreclosure filing in April 2019.

States with the highest foreclosure rates were New Jersey (one in every 980 housing units with a foreclosure filing); Maryland (one in every 1,218 housing units); Delaware (one in every 1,249 housing units); Illinois (one in every 1,371 housing units); and Florida (one in every 1,415 housing units).

Among the 200,000 metropolitan areas with a population of at least 200,000, those with the highest foreclosure rates in April 2019 were Atlantic City, New Jersey (one in every 702 housing units with a foreclosure filing); Fayetteville, North Carolina (one in every 732 housing units); Clarksville, Tennessee (one in every 853 housing units); Columbia, South Carolina (one in every 946 housing units); and Deltona-Daytona Beach, Florida (one in every 966 housing units).

Foreclosure completions continues to decline

Lenders completed foreclosures (REO) on 11,078 US properties in April 2019, down 9 percent from the previous month and down 22 percent from a year ago - a 6thconsecutive annual decline.

States that saw double-digit annual decline in REOs included Alabama (down 45 percent); Arizona (down 38 percent); North Carolina (down 32 percent); California (down 20 percent); and Nevada (down 14 percent).

10 states posted year-over-year increases in REOs in April 2019, including Washington (up 53 percent); Connecticut (up 22 percent); Kentucky (up 19 percent); and New York (up 3 percent).