In April, foreclosure activity showed notable increases with 25,265 filings initiated, representing a 0.8% rise from March and a sharp 16.1% jump compared to the previous year. Texas topped the list with 3,280 new filings, while completed foreclosures (REOs) saw a slight decrease of 2.9% month-over-month but a notable year-over-year increase of 23.3%. States like South Carolina and Maryland reported significant declines in completed foreclosures, highlighting regional differences. Overall, one in every 3,950 housing units nationwide faced foreclosure, with some metros like Warner Robins experiencing the highest rates.
In April, lenders initiated foreclosures on 25,265 properties, marking a 16.1% increase from last year, with Texas leading in foreclosure starts at 3,280.
Despite a national uptick, some states like South Carolina and Maryland saw substantial decreases in completed foreclosures, showcasing a regional variance in trends.
Nationally, one in every 3,950 housing units faced foreclosure in April, with certain metros like Warner Robins and Cleveland showing particularly high rates.
Houston led all metropolitan areas in April with the most foreclosure filings, highlighting significant challenges in urban housing markets across the U.S.
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