October Foreclosure Stats

[Mona Lisa Harrison]

the following is taken from an article in Inman News, a real estate agent news site.

A total of 11,673 U.S. properties endured foreclosure filings —

including default notices, scheduled auctions or bank repossessions — in

October, a 20 percent increase from September, but still down 79

percent from a year ago, according to a report released Tuesday by Attom Data Solutions.

Nationwide, one in every 11,683 housing units had a foreclosure filing in October 2020. States with the highest foreclosure rates included South Carolina (one in every 6,133 housing units had a foreclosure filing), Nebraska (one in every 6,246 housing units), Alabama (one in every 6,660 housing units), Louisiana (one in every 7,078 housing units), and Florida (one in every 7,208 housing units).

Out of the 220 metro areas with a population of at least 200,000, metros with the highest foreclosure rates were Peoria, Illinois (one in every 1,543 housing units with a foreclosure filing); Champaign, Illinois (one in every 1,674 housing units); Beaumont, Texas (one in every 1,880 housing units); Birmingham, Alabama (one in every 1,993 housing units); and Houma, Louisiana (one in every 2,964 housing units).

Foreclosure starts also rose in October, and were up by 21 percent from September, but down by 79 percent from the year before. Although most states posted foreclosure starts that were down from the previous year, some states like Idaho (up 109 percent) and Nebraska (up 56 percent) saw an annual increase in foreclosure starts. States that saw the greatest monthly increases in foreclosure starts included North Carolina (up 294 percent), Ohio (up 74 percent) Illinois (up 30 percent), New York (up 24 percent), and South Carolina (up 18 percent).

Since I'm in SC, I was particularly interested to see SC listed so prominently. I think it may be because of the beach areas. But don't know.