The foreclosure crisis feels like a relic of the Great Recession. After all, foreclosure filings have fallen 83% in 2019 compared to 2010, the lowest level since tracking began in 2005, according to ATTOM Data Solutions, a real estate data firm. Foreclosure starts also reached a new record low, led by states like Nevada (down 30%); New York (down 28%); and New Jersey (down 21%).
But in some areas, foreclosures continue to linger. Foreclosure starts increased in 14 states in 2019, including Rhode Island (up 54%); Mississippi (up 39%); Georgia (up 24%); Arkansas (up 14%); and Louisiana (up 11%).
At a closer look, a handful of counties with populations greater than 500,000 posted double-digit increases in foreclosure starts in 2019.
Foreclosures in the fourth quarter of 2019 remained in the foreclosure process an average of 834 days, a 3% uptick compared to a year ago.
Source: ATTOM Data Solutions
