Tri-Cities foreclosure activity back to pre-recession levels

October’s foreclosure activity in the Tri-Cities region was flat when compared to September and October last year. That portion of the local housing market has reverted to pre-recession levels.

There were 90  area properties with default notices, scheduled auctions or bank repossessions in October, according to Attom Data Solutions monthly Foreclosure Report. That’s 10 more than last month and 17 fewer than October last year.

Most of the actions – 47 – were notice of trustee sales.

Sullivan Co. accounted for the largest number of October’s foreclosure active with 15 notices of trustee sales and 18 repossessions. It also had the largest share of foreclosure activity in September and October last year.

Washington Co. Tenn. had the second-highest number of new actions – 15.

October’s numbers tend to increase as lenders may be pushing filings through the pipeline before the holiday season, said Todd Teta, chief product officer at Attom. “The latest U.S. numbers number is still below where it was a year ago and less than 15% of what it was during the depts of the Great Recession,” he added.

Sullivan’s October activity represents 0.04% of the county’s housing units.

Washington Co.’s filings accounted for 0.03% of that county’s housing units.


Categories: REAL ESTATE