Foreclosures in Tulsa, Oklahoma Increase by 7 Percent

According to Attom’s Mid-2024 Report on the U.S. Foreclosure Market, over 185,000 properties faced foreclosure filings. This represents a 13% increase compared to the previous year. Foreclosure filings can include notices of default, scheduled auctions, or bank repossessions.

As national rates rise, in Oklahoma, 1 in every 766 households is experiencing foreclosure, placing the state 15th in the country for homes that could soon be affected. A significant number of these are in the city of Tulsa. This new data reveals a 7% increase in foreclosures across the state of Oklahoma in 2024 compared to the previous year.

Speaking about the national data, the states with the largest increase in foreclosure rates are Maryland, Oregon, Alaska, West Virginia, and Arkansas. This contrasts with data from the COVID-19 era when foreclosures were uncommon due to low interest rates and the mortgage protections put in place during the pandemic.

Some experts expect foreclosures to continue rising. Among them is Rob Barber, CEO of ATTOM, who said, “Just like in the first half of 2023, U.S. foreclosure activity continued its upward trend, approaching pre-pandemic levels.” “While overall foreclosure activity is still below historical averages, the significant increase in foreclosure starts suggests that we could see a substantial rise in foreclosures in the future.”

The market report also indicates that completed foreclosure processes by lenders in the month of June totaled 3,215 properties, a 20% drop compared to May figures.

Available Foreclosures:

Oklahoma: 1 home available .

By Elias DaSilva | September 25, 2024