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65 October 2024 J O U R N A L fornia (one foreclosure for every 2,423 housing units); Miami (one foreclosure for every 2,429 housing units); Chicago (one foreclosure for every 2,450 housing units); and Orlando (one foreclosure for every 2,595 housing units). Greatest Numbers of Foreclosure Starts in Florida, California, and Texas In August 2024, lenders began the foreclosure process on 20,747 properties in the United States, a decrease of 5.1% from the previous month and 9.4% from the previous year. Florida (2,668 foreclo- sure starts), California (2,443 foreclosure starts), Texas (1,857 foreclosure starts), New York (1,328 foreclosure starts), and Illinois (1,208 foreclosure starts) were the states with the highest number of foreclosure starts in August 2024. Those major metropolitan areas with a population greater than 1 million that had the greatest number of foreclosure starts in August 2024 included: New York (1,332 foreclosure starts); Chicago (1,069 foreclosure starts); Miami (743 foreclosure starts); Los Angeles (675 foreclosure starts); and Houston (507 foreclosure starts). Lenders repossessed 2,889 U.S. prop- erties through completed foreclosures (REOs) in August 2024, down 12.0% from last month and down 13.9% from a year ago. States that had the greatest num- ber of REOs in August 2024, included: Pennsylvania (266 REOs); California (229 REOs); Illinois (224 REOs); Michigan (206 REOs); and Florida (202 REOs). Those major metropolitan statistical areas (MSAs) with a population greater than 1 million that saw the greatest num- ber of REOs in August 2024 included: Chicago (154 REOs); Detroit (114 REOs); New York (112 REOs); Pittsburgh (100 REOs); and Baltimore (56 REOs). Subscribe to MortgagePoint and MortgagePoint Digital now! Call 800.856.8060 to take advantage of our special introductory offer! Experts you trust. People you know. News you want. MortgagePoint is putting essential mortgage market news at your fingertips with our new digital edition, now available online via your smartphone, tablet, or computer. Enjoy the magazine at your desk, and tap into MortgagePoint Digital's easily accessible platform anywhere, anytime. Committed to giving originators, servicers, and all lending professionals access to smarter perspectives, MortgagePoint believes it's time to think differently about the mortgage industry. Because the American Dream is evolving . . . are you? Brought to you by & YOUR TRUSTED SOURCE FOR MORTGAGE BANK ING AND SERVICING NEWS JULY 2024 Magazine White House Main Street America TO FROM THE As the nation continues to struggle with housing affordability, what policies will the next Administration enact to remedy a lingering malady?