By DON FENLEY

Tri-Cities area foreclosures dropped to their lowest level this year in November. The combined number of foreclosures for the region’s two metro areas was nine filings that included one repossession. The regional total is down 65.4% from last year.

ATTOM’s monthly Foreclosure Report noted a 72.7% decline from last year in the three-county Johnson City metro area. The decline in the four-county Kingsport-Bristol metro area was 76%. ATTOM is a leading curator of real estate analytics.

Nationwide, there was a slight decline in foreclosure activity, according to the report. The lower activity, “likely reflects the seasonal ebb we often see this time of the year,” said ATTOM CEO Rog Barber. “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.”

Local repossessions were down 80% from last year and up 21% across the nation. The only November repossession was in the Kingsport-Bristol metro area. Last year, all five were in that metro area.

The low foreclosure activity is one of the reason the region’s two largest counties ( Sullivan and Washington) have consistently been ranked among this year’s U.S. counties least vulnerable to declines by ATTOM’s Housing Impact Report.

ATTOM’s Foreclosure Market Report provides a count of the total number of properties, with at least one foreclosure filing entered in the ATTOM Data Warehouse during the month and quarter. Data is collected from more than 3,000 counties nationwide, and those counties account for more than 99% of the U.S. population.

Categories: CORE DATA, REAL ESTATE