IRVINE, CA—Foreclosure filings reached their lowest level in 10 years in 2016, ATTOM Data Solutions said Thursday. The year just past also saw the lowest annual foreclosure rate nationwide since 2006.
There were foreclosure filings on 933,045 US properties last year, down 14% from the year prior. That's the lowest number of filings since '06, when there were 717,522 US properties with foreclosure filings, including default notices, scheduled auctions and bank repossessions. Last year saw a foreclosure rate of 0.70%, compared to 0.58% a decade earlier.
The report also includes new data for December, when there were 85,919 US properties with foreclosure filings. That's down 1% from the previous month and represents a year-over-decline of 17%, making December the 15th consecutive month with a Y-O-Y decrease in foreclosure activity.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
