However, lender repossessions climbed significantly

Foreclosure filings across the United States dropped in November, signaling a seasonal lull, according to the latest ATTOM Foreclosure Market Report.
A total of 29,390 properties faced foreclosure filings (comprising default notices, scheduled auctions, and bank repossessions), down 5% from October and a 9% decrease compared to the same month last year.
Rob Barber, CEO of ATTOM, attributed the slowdown to typical seasonal patterns but warned of regional disparities.
"The slight decline in US foreclosure activity during November most likely reflects the seasonal ebb we often see this time of year," Barber said in the report.
While foreclosure filings decreased nationally, some states continued to face elevated rates. In November, Nevada recorded the highest rate, with one in every 2,941 housing units facing a foreclosure filing. Florida and Connecticut followed, with rates of one in every 3,047 and 3,210 housing units, respectively. Maryland and Indiana rounded out the top five.
The number of foreclosure starts, where lenders initiate the foreclosure process, also fell. November saw 20,231 foreclosure starts, a 3% decrease from the prior month and a 10% drop compared to the previous year. Despite the decline, Texas (2,542), Florida (2,438), and California (2,239) led the country in the volume of foreclosure starts.
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In contrast to the overall decline in filings, completed foreclosures, or real estate-owned (REO) properties, rose significantly. Lenders repossessed 3,089 properties in November, up 5% from October and a notable 21% increase from the same period last year. California topped the list with 402 REOs, followed by Texas (232), New York (223), Illinois (206), and Pennsylvania (160).
"The data highlights areas of the country, such as Nevada, Florida, and Connecticut, where foreclosure rates remain relatively high,” Barber added. “As we move into 2025, we'll be closely monitoring how economic pressures and market dynamics may influence a potential rebound in activity."
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