Ken Hall

In August, 40,277 U.S. properties had foreclosure filings in total, including default notices, scheduled auctions, or bank repossessions. That’s up 1% from the previous month and 13% from a year ago, according to ATTOM.

Here are the states with the most foreclosure starts and the highest foreclosure rates:

Most Foreclosure Starts:

Florida: 3,189
Texas: 3,126
California: 2,565
Illinois: 1,192
Georgia: 1,189

Highest Foreclosure Rates:

South Carolina: 1/1,547
Nevada: 1/1,920
Florida: 1/2,397
Texas: 1/2,445
Maryland: 1/2,530

MY TAKE

Don’t let the big numbers fool you: Florida, Texas, and California lead in foreclosure starts mostly because they have the most homes. The more telling list is the rates, and that’s where South Carolina stands out. It doesn’t crack the top five for starts, yet one in every 1,547 homes there had a filing, more than double the national rate. Still, keep an eye on both Florida and Texas, since they’re the only states that rank high on both lists.

Until Next Week,

Ken

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