According to ATTOM Data’s Year-End 2018 U.S. Foreclosure Market Report, foreclosure filings have reached their lowest level since 2005. In 2018, there were 624,753 foreclosure filings (0.47% of all U.S. housing units), which was down 8% from 2007 and 78% from its peak in 2010. In addition they point out that bank repossessions decreased 78% since their peak in 2010 and foreclosure starts were at new record low nationwide. ATTOM’s year-end foreclosure report provides a unique count of properties with a foreclosure filing during the year based on publicly recorded and published foreclosure filings collected in more than 2,500 counties nationwide, with address-level data on more than 23 million foreclosure filings.
“Plummeting foreclosure completions combined with consistently falling foreclosure timelines in 2018 provide evidence that most of the distress from the last housing crisis has now been cleaned up,” said Todd Teta, Chief Product Officer.