Banks Repossessed 5,794 Homes in August, Up 42% From a Year Ago
The end of the pipeline is moving faster than the start
Banks are taking back more homes. Lenders repossessed 5,794 US properties in August through completed foreclosures, up 42% from a year ago and 22% from July, according to real estate data firm ATTOM. That growth far outpaced the 13% annual rise in overall foreclosure filings, which means more distressed homeowners are making it all the way to the end of the process instead of curing, selling or stalling along the way.
Texas dominates, rates highest in the Southeast
In total, 40,277 US properties received a foreclosure filing in August, up 1% from July and 13% from a year earlier, with lenders starting the process on 25,894 properties. Nationwide, one in every 3,569 housing units had a filing. Texas recorded the most completed foreclosures at 1,835, more than three times California's 589, followed by North Carolina at 356, Arizona at 296 and Alabama at 286. Among major metros, Houston led with 448 repossessions, then Dallas at 402 and San Antonio at 256.
By rate, South Carolina posted the nation's highest, with one filing for every 1,547 housing units, ahead of Nevada at one in 1,920 and Florida at one in 2,397. ATTOM CEO Rob Barber noted that foreclosure activity continues to trend above year-ago levels, particularly in completed foreclosures, while emphasizing that overall volumes remain well below historical norms and that the housing market continues to show resilience despite higher insurance, borrowing and everyday costs pressuring some owners.
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Completed foreclosures are the lagging edge of household stress, and the 42% jump says the stress is real even if the levels remain far from crisis-era volumes. The read-through runs through housing and credit: homebuilders in XHB on any demand softness, mortgage-exposed lenders in XLF, and consumer credit names where delinquencies would confirm the same trend.
Watch the September and October ATTOM prints for whether repossessions keep compounding at this pace, and follow housing data on the Unusual Whales news feed.
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