RealtyTrac released its 2015 Year-End U.S. Foreclosure Market Report January 14, finding foreclosures at a nine-year low.

Foreclosure filings, which include default notices, scheduled auctions and back repossessions, were down 3 percent over 2014 and 62 percent over the peak in 2010. After four years on the decline, bank repossessions increased.

Another positive– homes had been in the foreclosure process in 2015 for a slightly shorter period of time. The length of the process fell one day to 629 over the previous quarter, and was still up by 4 percent over the same time last year.

“In 2015 we saw a return to normal, healthy foreclosure activity in many markets even as banks continued to clean up some of the last vestiges of distress left over from the last housing crisis,” said Daren Blomquist, vice president at RealtyTrac in a statement. 

Six metro areas among the nation’s 20 largest posted increases in foreclosure activity:

  • Boston, up 44 percent
  • St. Louis, up 38 percent
  • Dallas, up 25 percent
  • Detroit, up 22 percent
  • New York, up 9 percent
  • Houston, up less than 1 percent

The metros with the highest foreclosure rates include:

  • Atlantic City, New Jersey, at 3.43 percent
  • Trenton, New Jersey, at 2.14 percent
  • Tampa Bay-St. Petersburg-Clearwater, Florida, at 2.03 percent
  • Jacksonville, Florida, 2.02 percent
  • Miami, Florida, at 1.98 percent

 

2015 Year-End U.S. Foreclosure Market Report

California saw a decrease in foreclosure activity by 14.66 percent annually in 2015, and it was an 83.05 percent decrease from the 2010 peak. The state saw 0.68 percent of housing units under foreclosure in 2015, which was a total of 92,671.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×