US foreclosures hit 14-year low: Report
Foreclosures hit a 14-year low in November, according to new data by real estate analytics company Black Knight.
The national foreclosure rate fell by 3 percent from October, reaching its lowest level since 2005, the report says.
Mississippi, Louisiana, Alabama, West Virginia and Arkansas had the highest foreclosure rates while California, Idaho, Oregon, Washington and Colorado had the lowest.
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The 33,500 U.S. foreclosure starts that happened in November marked a 26 percent decline over one year and the lowest monthly foreclosure volume recorded by Black Knight since 2000.
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Additionally, delinquencies in November stayed 5 percent below the 2018 level, and prepayment activity in November was 123 percent above prepayment activity at the same time last year, Black Knight found.
House under foreclosure. (AP Photo/David Zalubowski, File)
2019 also saw some of the most expensive home sales ever recorded in the U.S.
The top 10 most expensive homes sold in 2019 totaled nearly $1.2 billion, with Citadel founder Ken Griffin's $238 million purchase of a 24,000-square-foot Billionaires Row apartment in New York City ranking No. 1.
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