In November 2024, Arkansas experienced an 8.87% decline in foreclosure activity compared to the previous year, just slightly below the national decline of 9%. According to a report from ATTOM, most metro areas in Arkansas saw decreases in foreclosure activity during this time.
The U.S. Foreclosure Market Report by ATTOM indicated a total of 29,390 properties nationwide with foreclosure filings in November, representing a 9% decrease from the previous year. Arkansas had one property in a foreclosure action for every 7,415 properties in November, which was an 8.87% decline.
ATTOM CEO Rob Barber noted that the slight decline in foreclosure activity in the U.S. during November could be attributed to seasonal factors. However, certain states like Nevada, Florida, and Connecticut continued to have relatively high foreclosure rates.
States with the highest foreclosure rates included Nevada, Florida, and Connecticut, while Texas, Florida, and California had the greatest number of foreclosure starts in November 2024.
In terms of metro areas in Arkansas, Little Rock-North Little Rock-Conway had the most housing units with one in a foreclosure action per 7,678 units, showing a 12% decrease from the previous year. Northwest Arkansas, however, experienced a 53% increase in foreclosure activity compared to November 2023.
Overall, while Arkansas saw a decline in foreclosure activity in November, certain metro areas experienced fluctuations in activity levels. The real estate market will continue to be monitored closely for potential changes in economic pressures and market dynamics moving forward.
Source
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