During the height of the Great Recession, foreclosures in the United States reached staggeringly high levels. In 2009, about one in every 45 American households were in the process of losing their homes due to an inability to make payments. With the return of home prices to pre-recession levels, and in many cases higher, the foreclosure rate has also dropped dramatically. Just one in every 142 homes were in foreclosure in 2016.
Just as the housing market recovery has been anything but even across the country, so too have foreclosure declined at varying degrees depending on the region. In 2016, state foreclosure rates ranged from one home in every 1,559 to one in every 54. In every state, foreclosures affect — and are affected by — home values, incomes, and the strength of the regional economy.
ATTOM Data Solutions, a real estate data analytics company, provided 24/7 Wall St. with the share of housing units in each state that were in some stage of the foreclosure process during 2016.