Virginia Foreclosure Filings Drop Year-Over-Year, DC Increases

Foreclosure activity in the U.S. decreased on a year-over-year basis in January while increasing 7 percent from December, according to ATTOM Data. Virginia was one of many states that mirrored the national trend and had a year-over-year decrease in foreclosure filings.

According to ATTOM, 12 states and the District of Columbia posted a year-over-year increase in foreclosure activity in January, including New Jersey (up 8 percent); Ohio (up 6 percent); Indiana (up 20 percent); Arizona (up 1 percent) and DC (up 49 percent). In Virginia, foreclosure activity was down 12 percent year-over-year. The state was in the middle of the pack with the 24th-highest foreclosure rate in the nation.

In January 2018, there were 1,666 foreclosure filings in Virginia or one in every 2,363 properties had a foreclosure filing. In the District there were 169 foreclosure filings in January 2018 or one in every 24 properties.

States with the highest foreclosure rates were New Jersey, Delaware, Maryland, Illinois, and Ohio. A total of 28,277 U.S. properties started the foreclosure process in January, up 9 percent from the previous month, but still down 12 percent from a year ago.

Counter to the national trend, 17 states posted a year-over-year increase in foreclosure starts, including New Jersey (up 10 percent); Ohio (up 8 percent); Pennsylvania (up 12 percent); Indiana (up 222 percent); and South Carolina (up 20 percent).

Lenders repossessed through foreclosure (REO) a total of 26,597 U.S. properties in January, up 6 percent from the previous month but still down 17 percent from a year ago.

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