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Residential mortgage foreclosure filings across the country jumped 21 percent year-over-year in November.
The Charlotte metropolitan area recorded the greatest yearly gain of its foreclosure rate among metro regions with a population of at least 1 million, with an eye-popping 125 percent jump in the North Carolina enclave. One in every 3,156 housing units there had a foreclosure filing attached to it in November — 62nd among all the country’s metro areas, regardless of size.
The data comes from Attom, which in November found nearly 35,700 properties across the country with some type of foreclosure-related filing. These filings include notices of default and auction sales, and properties that have been foreclosed on and repurchased by a bank.
While the number of foreclosed properties in the U.S. fell from October, its 21 percent yearly gain was the ninth straight, according to Attom. Mortgage rates have only recently begun to edge down and homeowners continue to grapple with higher housing costs.
The metros with the greatest yearly increases and decreases in their foreclosure rates spanned the country, though three of the top five markets with the greatest increases (Charlotte, Richmond, Virginia and Memphis, Tennessee) are in the South.
At the other end of the spectrum, the Hartford, Connecticut, metropolitan region posted the greatest year-over-year decline in its foreclosure rate. Its November rate, where 1 in every 5,854 housing units had a foreclosure filing, was down about 46 percent from the same time last year.
The metro area with a population of at least 1 million that had the highest foreclosure rate in November was Philadelphia, which has 6.2 million residents. In the Philadelphia area, 1 in every 1,511 housing units had a foreclosure filing, up nearly 61 percent year over year.
Meanwhile, in San Jose, California, the foreclosure rate was 1 in every 12,770 housing units — the lowest among the top metros. San Jose’s rate had fallen more than 11 percent compared to November 2024.
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