Foreclosures Continue To Rise, With Nevada, South Carolina, and Florida Leading the Nation

Foreclosures continued to tick up last month, and foreclosure rates are highest in Nevada, South Carolina, and Florida.Although foreclosures remain below 2019 levels, July's foreclosure count of 39,906 properties was up 1% from June and 10% from a year ago, according to the latest U.S. Foreclosure Market Report from real estate analytics firm ATTOM.Nevada, South Carolina, and Florida saw the highest foreclosure rates in the nation last month. Nationally, 0.03% of homes had a foreclosure filing last month, but Nevada's average was double that at 0.06%. In South Carolina, 0.05% of housing units had a foreclosure filing, and in Florida the rate was 0.04%. These three states "have some characteristics that can make foreclosure activity more visible, but I think it’s important not to look at the foreclosure rate in isolation," says Mike Sibley, CPA and a partner at James Moore, an accounting and tax firm with offices across Florida."What’s really happening underneath the numbers is a combination of housing costs, affordability, local economic conditions, household cash flow, and how much financial pressure homeowners are carrying."Homeowners in Florida have struggled recently with risin...