GITNUX MARKETDATA REPORT 2024

Must-Know Foreclosures Statistics [Recent Analysis]

With sources from: mba.org, realtytrac.com, attomdata.com, housingwire.com and many more

In this post, we will explore key foreclosure statistics in the United States, shedding light on the prevalence and impact of foreclosures in the housing market. From historical data during the 2008 financial crisis to recent trends in May 2021, these statistics provide valuable insights into the housing landscape and economic challenges faced by homeowners across the country.

Statistic 1

"Nearly 1 in every 2,253 homes in the U.S. received a foreclosure filing in May 2021."

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Statistic 2

"During the 2008 financial crisis, 10 million Americans faced foreclosure on their homes."

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Statistic 3

"Foreclosure filings in May 2021 were up 23% from the previous month."

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Statistic 4

"Florida is among the top states with highest foreclosure rates, approximately 1 in every 1,238 housing units."

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Statistic 5

"In 2020, there were approximately 214,323 properties in the US in stages of foreclosure or bank-owned."

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Statistic 6

"The number of properties in foreclosure increased 6% from the first half of 2019 to the same period in 2020."

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Statistic 7

"During Q1 of 2021, there was a 14% decrease from the fourth quarter 2020 in foreclosure starts."

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Statistic 8

"California had the highest total number of foreclosures among U.S. states in April 2020 at approximately 2,600."

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Statistic 9

"During the housing crisis in 2007-2008, the rate of foreclosure filings in the United States reached 1.6 million."

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Statistic 10

"As of May 2021, the states with the lowest foreclosure rates are South Dakota, North Dakota and West Virginia."

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Statistic 11

"Foreclosures in Las Vegas, Nevada, during the Great Recession peaked at 10% in November 2009."

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Statistic 12

"In January 2021, 0.12 percent of all U.S. housing units (one in 832) had a foreclosure filing."

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Statistic 13

"FHA loans have the highest foreclosure rate, with one in every 60 FHA loans going into foreclosure."

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Interpretation

The statistics reveal a concerning trend in foreclosures across the United States, with notable increases in filings and properties in various stages of foreclosure. While some states like Florida and California continue to experience high foreclosure rates, others such as South Dakota, North Dakota, and West Virginia have lower rates. The data also highlights the impact of historical events like the 2008 financial crisis on foreclosure rates, emphasizing the need for ongoing monitoring and support for homeowners facing financial challenges.

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