November’s foreclosure filings tumbled downward both from last month and last year, and showed a greater monthly decrease than they’ve seen in several years, according to new data from ATTOM Data Solutions.
Foreclosure filings decreased 18% month-over-month and 17% year-over-year to 86,561 filings in November, according to the data. This decrease represents the largest monthly decrease since November of 2010.
Click to Enlarge
The drastic drop from last month could be due, in part, to October’s unexpected increase of 27% in foreclosure filings.
November’s decrease marks the 14th consecutive month with an annual decrease in foreclosure filings.
Most of the states, 32, posted annual decreases in foreclosure activity. Florida showed the largest decrease at 33%, followed by Michigan with 24%, Missouri with 17%, Washington with 16% and New York with 4%.
Foreclosure starts decreased by 19% month-over-month in November to 35,222, and by 15% annually. This marks the 17th consecutive month of annual decreases in foreclosure starts.
November also saw a decrease in real estate owned properties to 31,806. This is down 7% from last month and 21% from last year, marking the ninth consecutive month of annual declines in REOs.