Map Shows Where Foreclosures Are Surging Under Donald Trump
Nevada had the worst foreclosure rate in the country in July, followed by South Carolina and Florida.
The number of homes entering foreclosure and repossessed by lenders nationwide has been rising in July, according to new data from real estate provider ATTOM. With mounting borrowing costs and rising inflation, one in every 3,603 housing units faced a foreclosure filing in July, a 10 percent increase from the previous year. Rob Barber, ATTOM's CEO, noted that financial pressures remain a factor for some homeowners, though foreclosure activity remains low compared to historical standards.
Among the states, Nevada, South Carolina, Florida, Delaware, and Texas experienced the most foreclosure filings per 1,000 housing units. In terms of metropolitan areas, Punta Gorda, Florida, had the highest foreclosure rate, with one filing for every 899 housing units. Factors contributing to this rise include higher mortgage rates, increased homeownership costs, and the winding down of pandemic-era financial protections.
As of August, the national average 30-year fixed mortgage rate stood at 6.66 percent, up from 6.56 percent a year earlier. Rising home prices, property taxes, and higher insurance premiums have also made homeownership less affordable. Despite this, lenders initiated foreclosure proceedings on 26,648 U.S. properties in July, a 10 percent increase from June and 10 percent from the previous year. Texas led with 3,306 starts, followed by Florida, California, Illinois, and Georgia.
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