Foreclosure Filings Jump 21% Nationwide.

thenationalpulse.com

Foreclosure filings across the United States continue to rise, signaling a return to pre-pandemic levels, as Americans face increased financial strain and hurdles to home ownership.

PULSE POINTS

❓ WHAT HAPPENED: Foreclosure filings in the United States surpassed 200,000 this year, representing an increase of over 20 percent.📺 DETAIL: According to ATTOM, a real estate data company, foreclosure filings in the United States reached 228,000 in the first half of the year. This constitutes a 21 percent increase compared to the same period last year. This also marks a 28 percent increase from two years ago. Foreclosures typically occur when homeowners fall behind on mortgage payments. The stats with the largest increases in foreclosure filings were Idaho (59 percent), Colorado (57 percent), and Georgia (52 percent). Florida had the highest overall foreclosure rate, with one in every 2,106 housing units receiving a filing in June. ATTOM’s data on foreclosures, which was released on Thursday, includes bank repossessions, default notices, and scheduled auctions.💬 KEY QUOTE: “The increases also suggest that some homeowners may be facing greater financial strain than they were a year ago,” said Rob Barber, CEO of ATTOM.🎯 IMPACT: Following a dip in filings during the COVID-19 pandemic, the rise in foreclosures signals a return to pre-pandemic levels. In 2019, the year before lockdown, the number of foreclosures in the U.S. topped out at 640,864. The data suggests that economic pressures, including inflation and interest rate hikes, are likely contributing to the trend. In May, banks seized over 42,000 homes following foreclosure filings, an almost 20 increase compared to the previous year. “Foreclosure activity continued its gradual trend higher in April, with both foreclosure starts and completed foreclosures posting annual gains,” said ATTOM CEO Rob Barber in response to the data. Back in 2024, it was reported that foreclosures in the U.S. were on the rise due to higher living costs, suggesting the trend has persisted year-on-year. In response to concerns about home ownership, President Donald J. Trump has pushed Congress to pass a bill that would place restrictions on Wall Street investors buying single-family homes.