The latest data from ATTOM's Year-End 2024 U.S. Foreclosure Market Report reveals encouraging news for the housing market: foreclosure activity has continued its downward trend. In 2024, foreclosure filings—including default notices, scheduled auctions, and bank repossessions—were reported on 322,103 U.S. properties. This marks a 10% decrease from 2023 and a 1% drop from 2022, signifying a 35% decline from pre-pandemic levels in 2019. Most notably, foreclosure filings have plummeted 89% from their 2010 peak of nearly 2.9 million.
Foreclosure Starts Decline: Lenders initiated foreclosures on 253,306 properties, a 6% drop from 2023 and a significant 25% decline from 2019.
Bank Repossessions (REO) Down: Lenders repossessed 36,505 properties, marking a 13% decrease from 2023 and a 75% decline from 2019.
December 2024 Activity: Foreclosure filings fell 3% from November 2024 and 6% year-over-year.
Q4 2024 Overview: Foreclosure filings totaled 84,361 properties, down 3% from Q3 2024 and 9% from Q4 2023.
Florida: 1 in every 267 housing units
New Jersey: 1 in every 267 housing units
Nevada: 1 in every 273 housing units
Illinois: 1 in every 278 housing units
South Carolina: 1 in every 304 housing units
For investors, the continued decline in foreclosure activity suggests a stabilizing market. While this means fewer deeply discounted properties, it also points to stronger market fundamentals and reduced risk of widespread property devaluation. Real estate investors can still find opportunities in states and metropolitan areas with higher foreclosure rates, particularly in Florida, New Jersey, and Nevada.
Jet Lending offers a wide range of financial solutions tailored to real estate investors, including both short-term and long-term asset-based loans. These flexible financing options are designed to help investors grow their inventory and scale their businesses. Whether you're looking to purchase, renovate, or refinance properties, Jet Lending provides fast and reliable funding to keep your projects moving forward.
Here’s how Jet Lending can support your investment strategy:
Short-Term Loans: Ideal for fix-and-flip projects, Jet Lending's short-term loans offer quick access to capital, helping you close deals faster and complete renovations efficiently.
Long-Term Loans: For investors seeking to build a rental portfolio, our long-term asset-based loans provide competitive terms to support your buy-and-hold strategy.
Customized Solutions: Jet Lending works closely with investors to offer personalized loan options that align with their unique investment goals.
Market Expertise: Leveraging industry data and trends, we guide investors on where and when to invest for maximum return.
Focus on High-Foreclosure Markets: Areas like Lakeland, FL; Atlantic City, NJ; and Columbia, SC, present opportunities for investors seeking distressed properties.
Leverage Hard Money Loans: Jet Lending's flexible financing options empower investors to act quickly in competitive markets.
Balance Risk and Reward: With foreclosure rates declining, a strategic approach focused on value-add properties and market growth is key.
The foreclosure landscape in 2024 indicates a more resilient housing market. For real estate investors, this stability offers a chance to refine strategies and seek opportunities in targeted markets. At Jet Lending, we are here to support your investment journey with tailored financing solutions designed to help you succeed in any market condition.
Ready to capitalize on today's market opportunities? Contact Jet Lending today and let us help you turn your investment goals into reality.
Read the Attom Data article here https://www.attomdata.com/news/most-recent/2024-year-end-foreclosure-market-report/?utm_source=newsletter&utm_medium=email&utm_campaign=SEO-News+Updates