Arkansas’ foreclosure action rate declines in November
Arkansas had an 8.87% decline in foreclosure activity in November compared with November 2023, just below the national decline of 9%, according to Irvine, Calif.-based ATTOM. Most Arkansas metro areas had declines in foreclosure activity in November.
ATTOM’s November U.S. Foreclosure Market Report showed 29,390 properties nationwide with foreclosure filings – default notices, scheduled auctions or bank repossessions – in November, down 9% from a year ago. The U.S. tally equated to one property in a foreclosure action for every 4,795 housing units. Arkansas had one property in a foreclosure action in November for every 7,415 properties, which is down 8.87%.
“The slight decline in U.S. foreclosure activity during November most likely reflects the seasonal ebb we often see this time of year,” ATTOM CEO Rob Barber said in a statement. “While foreclosure filings are down both month-over-month and year-over-year, the data highlights areas of the country, such as Nevada, Florida, and Connecticut, where foreclosure rates remain relatively high. As we move into 2025, we’ll be closely monitoring how economic pressures and market dynamics may influence a potential rebound in activity.”
States with the highest foreclosure rates were:
• Nevada (one in every 2,941 housing units with a foreclosure filing);
• Florida (one in every 3,047 housing units);
• Connecticut (one in every 3,210 housing units);
• Maryland (one in every 3,535 housing units); and,
• Indiana (one in every 3,567 housing units).
States with the greatest number of foreclosure starts in November 2024 were Texas (2,542 starts), Florida (2,438 starts), California (2,239 starts), New York (1,167 starts); and Pennsylvania (844 starts).
Among the 224 metro areas with a population of at least 200,000, those with the highest foreclosure rates in November 2024 were:
• Modesto, Calif. (one in every 1,890 housing units with a foreclosure filing);
• Reading, Penn. (one in every 2,133 housing units);
• Bakersfield, Calif. (one in every 2,155 housing units);
• Riverside, Calif. (one in every 2,207 housing units); and,
• Chico, Calif. (one in every 2,270 housing units).
Following are the November foreclosure numbers in Arkansas metro areas, ranked by number of total housing units.
• Little Rock-North Little Rock-Conway
Housing units: 337,837
One unit in a foreclosure action per 7,678 units
Percentage change compared with November 2023: down 12%
• Northwest Arkansas
Housing units: 232,827
One unit in a foreclosure action per 8,955 units
Percentage change compared with November 2023: up 53%
• Fort Smith metro
Housing units: 121,711
One unit in a foreclosure action per 8,694 units
Percentage change compared with November 2023: down 46.2%
• Texarkana
Housing units: 65,526
One unit in a foreclosure action per 5,040 units
Percentage change compared with November 2023: up 8.3%
• Jonesboro
Housing units: 57,499
One unit in a foreclosure action per 11,500 units
Percentage change compared with November 2023: down 54.6%
• Hot Springs
Housing units: 52,383
One unit in a foreclosure action per 8,731 units
Percentage change compared with November 2023: up 50%
• Pine Bluff
Housing units: 38,711
One unit in a foreclosure action per 7,754 units
Percentage change compared with November 2023: down 70.6%