175+ Foreclosure Statistics: Market Reality Check (2025)

This collection of 175+ foreclosure statistics offers a comprehensive look at the 2025 market landscape. Drawing from REsimpli’s survey of real estate investors and other trusted sources, this covers everything from national trends to state-by-state comparisons, revealing opportunities for investors—including fix-and-flip deals yielding average profits of $40,000 per property.

Top Foreclosure Statistics: Editor’s Pick

Foreclosure trends offer critical insights into the health of the housing market and investment opportunities. These statistics highlight recent foreclosure patterns, timelines, and financial implications, revealing how this segment of the real estate market continues to evolve.

• Foreclosure Auction was the best lead source and brought in an average revenue of $34,358 
• Foreclosure was the best option for real estate investors and outperformed the second-best option, MLS, by $4,497 
• The number of housing units with foreclosure filings in March 2024 was 32,878, a drop of less than 1% from the previous month and a 10% decline from the previous year 
• 95,349 U.S. properties had a foreclosure filing during Q1 2024, up 3% from the previous quarter 
• 95,349 U.S. properties had a foreclosure filing during Q1 2024, down less than 1% from a year ago 
• In September 2024, 29,668 U.S. properties had foreclosure filings 
• The foreclosure filings in September 2024 marked a 2% decrease compared to August 2024 
• The foreclosure filings in September 2024 marked a 19% decrease compared to September 2023 
• The average time to foreclose in Q3 2024 was 815 days 
• The average foreclosure timeline increased by 6% compared to Q3 2023
• U.S. household debt hit a record $16.9 trillion in Q4 2022, with mortgages accounting for 71%
• Homeowner equity in the U.S. is estimated at over $35 trillion, serving as a financial buffer against widespread foreclosure risks

National Foreclosure Trends and Volumes

National foreclosure data serves as a key indicator of housing market health across the United States. These statistics reveal that foreclosure activity has been generally declining throughout 2024, with monthly and quarterly figures showing consistent decreases compared to 2023, despite remaining significantly below pre-pandemic levels.

• The number of housing units with foreclosure filings in March 2024 was 32,878, a drop of less than 1% from the previous month and a 10% decline from the previous year 
• 95,349 U.S. properties had a foreclosure filing during Q1 2024, up 3% from the previous quarter 
• 95,349 U.S. properties had a foreclosure filing during Q1 2024, down less than 1% from a year ago 
• In Q3 2024, 87,108 U.S. properties had foreclosure filings 
• The total number of foreclosure filings in Q3 2024 represents a 2% decrease compared to Q2 2024 
• The total number of foreclosure filings in Q3 2024 represents a 13% decrease compared to Q3 2023 
• In September 2024, 29,668 U.S. properties had foreclosure filings 
• The foreclosure filings in September 2024 marked a 2% decrease compared to August 2024 
• The foreclosure filings in September 2024 marked a 19% decrease compared to September 2023 
• In September 2024, one in every 4,750 properties nationwide had a foreclosure filing 
• 30,227 properties had foreclosure filings in August 2024 
• Foreclosure filings dropped 5.3% from July 2024 and 11% compared to August 2023 
• Pre-pandemic foreclosure filings exceeded 270,000 properties 
• Foreclosure filings in 2024 totaled 322,103 properties, marking a 10% drop compared to 2023 
• In October 2024, foreclosure filings reached 30,784, representing a 4% increase from September 2024 
• Foreclosure filings in October 2024 were 11% lower than in October 2023 
• The number of properties that had received a foreclosure filing was up 8% year over year to nearly 33,000 properties in February 
• This amounts to about one in every 4,300 homes facing a foreclosure filing in February 
• Foreclosure filings in the U.S. increased by 115% in 2022 compared to 2021 
• Approximately 324,237 properties in the U.S. had foreclosure filings in 2022 
• The national average foreclosure rate in the U.S. in 2022 was one in every 422 housing units 
• Foreclosure activity was still 34% below pre-pandemic levels in 2022 
• The nationwide foreclosure rate in Q1 2024 was 1 in every 1,478 housing units 
• The foreclosure rate in 2024 was 0.23% of all housing units, representing 322,103 properties with foreclosure filings 
• One in every 4,286 properties in the U.S. had a foreclosure filing in March 2024 
• The total mortgage delinquency rate was at 3.96% at the end of 2022, the lowest in decades 
• FHA loans had a higher delinquency rate of 9.8% compared to conventional loans 
• The percentage of seriously delinquent loans in the foreclosure process decreased from 0.53% in Q2 2023 to 0.43% in Q2 2024 

Sources: SoFi, ATTOM, MagicDoor, DoorLoop, Mortgage Bankers Association, PRNewswire

State-by-State Foreclosure Rates and Rankings

Foreclosure activity varies dramatically by state, reflecting regional economic conditions and housing market dynamics. These statistics highlight the stark contrasts between high-foreclosure states like Illinois, Florida, and Nevada versus low-activity states like Vermont and Montana, providing essential geographic insights for investors targeting distressed property opportunities.

• Vermont had the lowest foreclosure rate, with 11 homes foreclosed out of 335,138 housing units, at a rate of one in every 30,467 households 
• Montana ranked 49th for foreclosure rate, with 24 foreclosures out of 517,430 housing units, making the foreclosure rate one in every 21,560 homes 
• South Dakota ranked 48th, with 22 foreclosures out of 393,150 housing units, resulting in a foreclosure rate of one in every 17,870 households 
• West Virginia ranked 47th, with 58 foreclosures out of 859,142 housing units, at a rate of one in every 14,813 homes 
• Oregon ranked 46th, with 124 foreclosures out of 1,818,599 housing units, at a rate of one in every 14,666 homes 
• Kansas ranked 45th, with 100 foreclosures out of 1,278,548 housing units, at a rate of one in every 12,785 homes 
• Rhode Island ranked 44th, with 38 foreclosures out of 483,053 housing units, at a rate of one in every 12,712 households 
• New Mexico ranked 43rd, with 82 foreclosures out of 943,149 housing units, at a rate of one in every 11,502 homes 
• Mississippi ranked 42nd, with 121 foreclosures out of 1,324,992 housing units, at a rate of one in every 10,950 homes 
• Washington ranked 41st, with 323 foreclosures out of 3,216,243 housing units, at a rate of one in every 9,957 homes 
• Illinois had the highest foreclosure rate in March 2024, with 2,130 foreclosures out of 5,427,357 housing units, at a rate of one in every 2,548 households
• Connecticut had the second highest foreclosure rate, with 587 foreclosures out of 1,531,332 housing units, at a rate of one in every 2,609 households 
• New Jersey ranked third, with 1,424 foreclosures out of 3,756,340 housing units, at a rate of one in every 2,638 households 
• Florida ranked 4th, with 3,568 foreclosures out of 9,915,957 housing units, at a rate of one in every 2,779 households 
• South Carolina ranked 5th, with 824 foreclosures out of 2,362,253 housing units, at a rate of one in every 2,867 households 
• Delaware ranked 6th, with 148 foreclosures out of 451,556 housing units, at a rate of one in every 3,051 households 
• Maryland ranked 7th, with 815 foreclosures out of 2,531,075 housing units, at a rate of one in every 3,106 households 
• Indiana ranked 8th, with 937 foreclosures out of 2,931,710 housing units, at a rate of one in every 3,129 households 
• Ohio ranked 9th, with 1,658 foreclosures out of 5,251,209 housing units, at a rate of one in every 3,167 households 
• Nevada ranked 10th, with 405 foreclosures out of 1,288,357 housing units, at a rate of one in every 3,181 households 
• California ranked 11th, with 3,975 foreclosures out of 14,424,442 housing units, at a rate of one in every 3,629 households 
• Massachusetts ranked 12th, with 775 foreclosures out of 2,999,314 housing units, at a rate of one in every 3,870 households 
• Delaware had the highest foreclosure rate in Q1 2024, with 1 in every 894 housing units
• New Jersey had the second-highest foreclosure rate in Q1 2024, with 1 in every 919 housing units 
• South Carolina had the third-highest foreclosure rate in Q1 2024, with 1 in every 929 housing units 
• Nevada had the fourth-highest foreclosure rate in Q1 2024, with 1 in every 961 housing units 
• Florida had the fifth-highest foreclosure rate in Q1 2024, with 1 in every 973 housing units 
• In Q3 2024, Illinois had the highest foreclosure rate, with 1 in every 904 housing units experiencing foreclosure 
• In Q3 2024, Nevada had the second-highest foreclosure rate, with 1 in every 922 housing units experiencing foreclosure 
• In Q3 2024, Florida had the third-highest foreclosure rate, with 1 in every 971 housing units experiencing foreclosure 
• In Q3 2024, Delaware had the fourth-highest foreclosure rate, with 1 in every 1,060 housing units experiencing foreclosure 
• In Q3 2024, South Carolina had the fifth-highest foreclosure rate, with 1 in every 1,069 housing units experiencing foreclosure 
• In September 2024, Illinois had the highest foreclosure rate, with 1 in every 2,494 housing units experiencing foreclosure 
• In September 2024, Florida had the second-highest foreclosure rate, with 1 in every 2,670 housing units experiencing foreclosure 
• In September 2024, Delaware had the third-highest foreclosure rate, with 1 in every 2,720 housing units experiencing foreclosure 
• In September 2024, Nevada had the fourth-highest foreclosure rate, with 1 in every 2,735 housing units experiencing foreclosure 
• In September 2024, Indiana had the fifth-highest foreclosure rate, with 1 in every 3,159 housing units experiencing foreclosure 
• North Dakota has the highest foreclosure rate at 34.29% 
• South Dakota has the lowest foreclosure rate at 13.64% 
• Nevada, Florida, and Illinois had the highest foreclosure rates in August 2024, with one in every 2,473, 2,605, and 2,837 housing units in foreclosure, respectively 
• Connecticut ranked seventh in foreclosure filings in the first half of 2024, with 2,860 properties in foreclosure (0.19% of housing units, above the 0.13% national average) 
• Delaware ranked eighth in foreclosure filings with 826 properties in foreclosure (0.18% of housing units), a 17.7% decrease from 2023 
• Illinois had the second-highest foreclosure rate, with 11,336 properties in foreclosure (0.21% of housing units), declining 16.7% from H1 2023 
• Maryland had 4,762 foreclosure filings (0.19% of housing units), ranking sixth, with an 18.7% decline from H1 2023 
• Massachusetts ranked 17th in the US for foreclosure filings, with 3,411 properties in foreclosure (0.11% of housing units), up 45.6% from 2023 
• New Jersey ranked first in foreclosure filings with 8,076 cases (0.21% of housing units), down 11.1% from 2023 
• Ohio ranked ninth in foreclosure filings with 9,236 cases (0.18% of housing units), down 12.4% from 2023 
• Pennsylvania ranked 14th in foreclosure filings, with 7,141 cases (0.12% of housing units), up 0.92% from last year 
• Rhode Island ranked 44th in foreclosure filings, with 253 cases (0.05% of housing units), down 29.9% from H1 2023 
• Wisconsin ranked 40th in foreclosure filings, with 1,543 properties in foreclosure (0.06% of housing units), down 11% from H1 2023 
• Nevada had the highest foreclosure rate in November 2024, with 1 in every 2,941 housing units facing action 
• Florida followed closely with 1 in every 3,047 units 
• Nevada had the highest foreclosure rate in December 2024, with 1 in every 2,707 homes in foreclosure 
• Indiana followed Nevada in December 2024 foreclosure rates, with 1 in every 2,833 homes in foreclosure 
• Maryland reported 1 in every 3,253 homes in foreclosure in December 2024, making it one of the states with high foreclosure activity 
• The number of homes with a foreclosure filing in February was one in every 2,248 homes in South Carolina 
• South Carolina had the highest foreclosure rate in the country, with lenders repossessing 51% more homes in February compared to the previous year 
• The states with the highest foreclosure rates in 2022 were Illinois, Delaware, and New Jersey 
• Nevada, Delaware, and New Jersey are projected to remain among the states with high foreclosure rates in 2025 due to localized economic pressures 
• Florida had the highest foreclosure rates in the nation last year, tied with New Jersey. One in every 267 housing units was foreclosed 
• Florida had the second-highest number of foreclosure starts in the U.S. last year (29,239) after California (29,529) 
• Florida had the third-highest number of foreclosure filings (2,652) in December 2024, behind California (3,772) and Texas (2,868) 
• Florida and New Jersey tied for the highest foreclosure rate in 2024, with 1 in every 267 housing units affected 
• Nevada ranked third in foreclosure rates in 2024, with 1 in every 273 homes facing foreclosure 
• Illinois reported 1 in every 278 housing units in foreclosure in 2024 
• South Carolina had 1 in every 304 homes in foreclosure in 2024 

Sources: SoFi, ATTOM, MagicDoor, Newsweek, Realtor

Metropolitan/County-Level Foreclosure Data

Foreclosure activity varies significantly at the metro and county level, often revealing localized economic challenges that state-level data might obscure. These statistics highlight foreclosure hotspots across the country, from smaller markets like Lakeland, Florida (with the highest rate of 1 in every 172 housing units) to major metropolitan areas like New York and Chicago with the highest raw numbers of foreclosure starts.

• Washington, D.C. observed 167 foreclosures in March, up about 17% from the previous month 
• The foreclosure rate in Washington, D.C. was one in every 2,098 households 
• Among 224 metropolitan statistical areas with a population of at least 200,000, the highest foreclosure rate in Q3 2024 was in Lakeland, Florida, with 1 in every 610 housing units experiencing foreclosure 
• Provo, Utah had the second-highest foreclosure rate in Q3 2024, with 1 in every 647 housing units experiencing foreclosure 
• Macon, Georgia had the third-highest foreclosure rate in Q3 2024, with 1 in every 649 housing units experiencing foreclosure 
• Columbia, South Carolina had the fourth-highest foreclosure rate in Q3 2024, with 1 in every 663 housing units experiencing foreclosure 
• Atlantic City, New Jersey had the fifth-highest foreclosure rate in Q3 2024, with 1 in every 766 housing units experiencing foreclosure
• Chicago, Illinois, among large metro areas with a population of over 1 million, had a foreclosure rate of 1 in every 775 housing units in Q3 2024 
• Las Vegas, Nevada had a foreclosure rate of 1 in every 796 housing units in Q3 2024
• Cleveland, Ohio had a foreclosure rate of 1 in every 819 housing units in Q3 2024 
• Orlando, Florida, had a foreclosure rate of 1 in every 859 housing units in Q3 2024 
• Riverside, California, had a foreclosure rate of 1 in every 867 housing units in Q3 2024
• In Q3 2024, New York, NY, had the highest number of foreclosure starts, totaling 3,776 properties 
• In Q3 2024, Chicago, IL, had the second-highest number of foreclosure starts, totaling 3,231 properties 
• In Q3 2024, Los Angeles, CA, had the third-highest number of foreclosure starts, totaling 2,166 properties 
• In Q3 2024, Miami, FL, had the fourth-highest number of foreclosure starts, totaling 2,142 properties 
• In Q3 2024, Houston, TX, had the fifth-highest number of foreclosure starts, totaling 1,791 properties 
• Charles County, Maryland, had the third-highest foreclosure rate among counties with over 100,000 people 
• Sussex County and Warren County, New Jersey, ranked fourth and sixth, respectively, in foreclosure rates among counties with populations over 100,000 
• Delaware County, Pennsylvania, ranked tenth among counties with the highest foreclosure rates 
• Spartanburg, SC, had one in every 1,742 homes facing foreclosure in February 
• Merced, CA, had one in every 1,794 homes facing foreclosure in February 
• Florence, SC, had one in every 1,809 homes facing foreclosure in February 
• Lakeland, Florida, had the highest foreclosure rate in 2024, with 1 in every 172 housing units 
• Florida counties with the highest number of foreclosure filings included Miami-Dade, Broward, Palm Beach, Hillsborough, and Orange 

Sources: SoFi, ATTOM, MagicDoor, Newsweek, Realtor

Foreclosure Timeline and Process Metrics

Understanding the time and procedural elements of foreclosure is critical for all housing market stakeholders. These statistics reveal significant state-by-state variations in foreclosure timelines and completion rates, illustrating how local laws directly impact the length and outcome of foreclosure proceedings.

• The average time to foreclose showed a slight increase from the previous quarter but continues a downward trend since mid-2020
• States with longer foreclosure timelines include Louisiana, Hawaii, and New York, while Montana, Virginia, and Texas have shorter foreclosure timelines 
• The average time to foreclose in Q3 2024 was 815 days 
• The average foreclosure timeline increased by 6% compared to Q3 2023 
• The state with the longest foreclosure timeline in Q3 2024 was Louisiana, with an average of 3,520 days
• The state with the shortest foreclosure timeline in Q3 2024 was New Hampshire, with an average of 165 days
• The average time to foreclose in 2024 was 762 days, representing a 6% increase from 2023 
• The average foreclosure timeline in the U.S. was 885 days in 2022 
• New Jersey had the longest foreclosure timeline at 2,041 days on average 
• South Dakota had the shortest foreclosure timeline, averaging just 127 days 
• States with judicial foreclosure processes had longer foreclosure timelines 
• The foreclosure completion rate has averaged 24.8% monthly, meaning that about one in four properties scheduled for foreclosure auction each month completes the foreclosure process 
• Between 2015 and 2019, about one in three properties (33.8%) scheduled for foreclosure auction each month completed the foreclosure process on average 
• Nationwide, properties were scheduled for foreclosure auction an average of 1.72 times between 2022 and 2024 
• In New Jersey, properties were scheduled for foreclosure auction an average of 2.52 times between 2022 and 2024 
• In California, properties were scheduled for foreclosure auction an average of 2.66 times between 2022 and 2024 
• In Pennsylvania, properties were scheduled for foreclosure auction an average of 2.50 times between 2022 and 2024 
• In Nevada, properties were scheduled for foreclosure auction an average of 2.17 times between 2022 and 2024 

Sources: SoFi, Scotsman Guide, DoorLoop, ATTOM

Foreclosure Starts and Processes

Tracking the initiation of foreclosure proceedings provides critical insight into the housing market and economic conditions across the nation. These statistics highlight quarterly and annual trends in foreclosure starts across different states, revealing regional variations and indicating how financial distress is evolving in the housing sector.

• Foreclosure starts increased nationwide by 2%, with notable spikes in New Hampshire, Illinois, and Florida 
• 67,657 U.S. properties started the foreclosure process in Q1 2024, up 2% from the previous quarter 
• 67,657 U.S. properties started the foreclosure process in Q1 2024, up 4% from a year ago 
• New Hampshire had a 43% increase in foreclosure starts in Q1 2024, the highest in the U.S. 
• Illinois had a 26% increase in foreclosure starts in Q1 2024 
• Florida had a 22% increase in foreclosure starts in Q1 2024
• Rhode Island had a 21% increase in foreclosure starts in Q1 2024 
• Nevada had a 16% increase in foreclosure starts in Q1 2024 
• The number of foreclosure starts in Q3 2024 totaled 62,380 properties 
• Foreclosure starts in Q3 2024 decreased by less than 1% compared to Q2 2024 
• Foreclosure starts in Q3 2024 decreased by 10% compared to Q3 2023 
• In North Carolina, foreclosure starts decreased by 44% in Q3 2024 
• In Georgia, foreclosure starts decreased by 29% in Q3 2024
• In Maryland, foreclosure starts decreased by 22% in Q3 2024 
• In New Jersey, foreclosure starts decreased by 20% in Q3 2024 
• In South Carolina, foreclosure starts decreased by 19% in Q3 2024 
• In September 2024, 19,763 U.S. properties started foreclosure
• The foreclosure starts in September 2024 marked a 5% decrease from August 2024 
• The foreclosure starts in September 2024 marked a 21% decrease from September 2023 
• Foreclosure starts dropped 5.1% from July 2024 and 9.4% from August 2023 
• Foreclosure starts in 2024 amounted to 253,306 properties, reflecting a 6% decline from the previous year 
• Foreclosure starts decreased by 3% in November 2024 
• Foreclosure starts saw a 10% year-over-year decrease in November 2024 
• California had the highest foreclosure starts in October 2024, with 2,915 properties flagged 
• In Q4 2022, foreclosure starts rose by 13% compared to Q3 2022 
• Foreclosure starts increased in 40 states and 205 metro areas in 2022 

Sources: SoFi, DoorLoop, ATTOM, MagicDoor

Repossessions and Bank-Owned Properties

The final stage of foreclosure—when lenders repossess properties—represents a critical economic indicator and investment opportunity. These statistics detail trends in bank repossessions across different states and time periods, revealing how lenders manage distressed assets and how these properties create potential value for investors.

• Foreclosure Auction was the best lead source and brought in an average revenue of $34,358 
• Foreclosure was the best option for real estate investors and outperformed the second-best option, MLS, by $4,497 
• Bank repossessions increased by 7% from the previous quarter but showed a 20% decline compared to a year ago 
• 10,052 U.S. properties were repossessed by lenders in Q1 2024, up 7% from the previous quarter 
• 10,052 U.S. properties were repossessed by lenders in Q1 2024, down 20% from a year ago 
• Michigan had the highest number of REOs in Q1 2024, with 1,049 properties repossessed 
• California had 845 REOs in Q1 2024 
• Pennsylvania had 838 REOs in Q1 2024
• Illinois had 810 REOs in Q1 2024 
• Texas had 596 REOs in Q1 2024 
• In Q3 2024, a total of 10,357 properties were repossessed through foreclosure (REO)
• The number of REO properties increased by 1% from Q2 2024 
• The number of REO properties decreased by 12% from Q3 2023 
• Completed foreclosure sales in July were approximately 5,500, increasing by 3.7% month-over-month but down 9.6% year-over-year 
• Completed foreclosures fell by 12% from July 2024 and 13.9% from August 2023 
• About 3,400 homes were repossessed in February, which was down 11% year over year and down 14% from the previous month 
• The number of completed foreclosures fell annually in 28 states 
• Bank repossessions in 2024 reached 36,505 properties, a 13% reduction from 2023 
• Lenders repossessed 42,854 properties in 2022, marking a 67% increase from 2021 
• Bank-owned (REO) properties saw a 67% increase in repossession compared to the previous year 
• Lender repossessions increased by 21% in November 2024, indicating a shift from new foreclosure starts to completing older cases 

Sources: REsimpli, SoFi, ATTOM, DoorLoop, MagicDoor, Realtor

Economic Factors Influencing Foreclosures

Foreclosure rates are directly tied to broader economic conditions that affect homeowners’ ability to maintain mortgage payments. These statistics illuminate the complex relationship between home equity, interest rates, unemployment, and regional economic trends, demonstrating how macroeconomic forces create both vulnerabilities and protections in the housing market.

• Foreclosure rates are influenced by economic conditions and housing market stability 
• West Virginia has experienced a significant increase in foreclosure rates, reaching 168% 
• Vermont has seen a substantial increase in foreclosure rates by 79.17%, indicating economic challenges 
• Oregon’s foreclosure rate has decreased by 1.21%, showing signs of market resilience 
• Wisconsin’s foreclosure rate has remained stable, with only a marginal 0.1% change 
• Connecticut saw a 17.3% increase in foreclosure activity from H1 2023 and a 44.5% increase from H1 2022 
• Median home prices nationwide increased 52% between March 2020 and June 2024, according to data from the National Association of Realtors 
• The total home equity nationwide reached $32.8 trillion in Q1 2024, marking a record high, according to the Federal Reserve 
• Since January 2022, the amount of potential equity for properties scheduled for foreclosure auction has reliably predicted foreclosure auction completion rates with a less than 1% standard error rate 
• The negative correlation between higher home equity and lower foreclosure completion rates has been particularly strong since the lifting of the nationwide foreclosure moratorium on government-backed mortgages in January 2022 
• The nationwide foreclosure moratorium on government-backed mortgages officially ended in July 2021, but a de facto extension pushed it to January 2022
• The foreclosure completion rate is generally higher in states where properties brought to foreclosure auction have lower equity 
• Homeowners caught in a downward spiral of distress—moving in and out of foreclosure—end up losing more home equity over time, according to an Auction.com analysis
• Housing inventory in Florida climbed to an average of 54.8 percent in 2024 
• The average time on the market in Florida grew by 11 days year over year 
• Home prices in Florida fell by an average of 4.4 percent 
• Homeowners insurance rates have increased significantly in Florida, contributing to higher monthly mortgage payments and potential foreclosures
• Legislation passed after the Surfside condo collapse has led to higher association fees and special assessments, contributing to foreclosure risks 
• Nationwide foreclosure activity declined in 2024, suggesting a stabilizing housing market
• Florida’s economy remains strong, and the national economy continues to thrive, with wage growth now outpacing inflation 
• Florida has three of the five metropolitan areas with the biggest increases in property taxes between 2019 and 2024 
• Unemployment rates and inflation were significant factors influencing foreclosure rates in 2022 
• Home prices increased by 10.2% in 2022 despite rising interest rates 
• Mortgage rates peaked at 7.08% in late 2022, the highest in 20 years 
• Real estate investors accounted for 28% of all home purchases in 2022
• Institutional investors purchased 90,000 properties in 2022, a significant increase from prior years 
• The rental vacancy rate declined to 5.6% in 2022, the lowest in decades 
• U.S. household debt hit a record $16.9 trillion in Q4 2022, with mortgages accounting for 71%
• Homeowner equity in the U.S. is estimated at over $35 trillion, serving as a financial buffer against widespread foreclosure risks
• Inflation and rising interest rates in 2024 have increased financial burdens on homeowners, making adjustable-rate mortgages (ARMs) more expensive 
• Some states had actual foreclosure completion rates between January 2022 and July 2024 at least 30% lower than predicted based on home equity levels 
• The state of New Jersey had foreclosure completion rates at least 30% lower than predicted based on home equity levels 
• The state of California had foreclosure completion rates at least 30% lower than predicted based on home equity levels 
• The state of Pennsylvania had foreclosure completion rates at least 30% lower than predicted based on home equity levels 
• The state of Nevada had foreclosure completion rates at least 30% lower than predicted based on home equity levels

Sources: World Population Review, Scotsman Guide, Hartford Business, Realtor, Newsweek, MagicDoor, DoorLoop

Historical Foreclosure Comparisons 

Understanding how today’s foreclosure landscape compares to previous housing crises provides essential context for evaluating current market risks and opportunities. These statistics contrast current foreclosure activity with historical patterns—particularly the 2007-2010 Great Recession period—revealing how regulatory interventions, changing market conditions, and regional differences have shaped foreclosure trends over time.

• California had the most foreclosure filings, with 3,975 foreclosures, while Vermont had the least, with only 11 foreclosures 
• The Great Lakes and Mideast regions had the largest presence in the top 10 states with the highest foreclosure rates: Great Lakes region states: Illinois, Indiana, and Ohio. Mideast region states: New Jersey, Delaware, and Maryland 
• The Far West, Southeast, Plains, and New England regions had the largest presence among the 10 states with the lowest foreclosure rates: Far West region states: Washington, Oregon. Southeast region states: Mississippi, West Virginia. Plains region states: Kansas, South Dakota. New England region states: Rhode Island, Vermont 
• The foreclosure moratorium expired in mid-2021, but many states extended restrictions, most of which have since ended 
• There are now more buyers than there are homes for sale—the opposite of what happened after the housing bubble burst 
• Foreclosure filings peaked in 2010 at 2.9 million properties, affecting 1 in every 45 households 
• During the Great Recession (2007-2010), foreclosure filings exceeded 2 million annually
• In 2020, foreclosure filings dropped to fewer than 200,000 properties, marking a record low due to the pandemic foreclosure moratoriums 
• In 2022, foreclosure filings rose by approximately 115% compared to 2020, but they remained below pre-pandemic levels
• The number of active foreclosures was up 20% year-over-year by the end of 2022 
• South Dakota has 25 properties currently in foreclosure.
• North Dakota has 47 properties currently in foreclosure 
• Vermont has 43 properties currently in foreclosure 
• Montana has 97 properties currently in foreclosure
• Kentucky has 453 properties currently in foreclosure 
• Washington has 751 properties currently in foreclosure 
• Kansas has 313 properties currently in foreclosure 
• West Virginia has 212 properties currently in foreclosure 
• Idaho has 212 properties currently in foreclosure 
• Maine has 227 properties currently in foreclosure 
• Rhode Island has 2,765 properties currently in foreclosure
• Wisconsin has 2,763 properties currently in foreclosure 
• Oregon has 2,751 properties currently in foreclosure 
• Missouri has 2,617 properties currently in foreclosure
• New Hampshire has 2,587 properties currently in foreclosure 
• Nebraska has 2,502 properties currently in foreclosure 
• Massachusetts has 2,268 properties currently in foreclosure 
• Mississippi has 2,256 properties currently in foreclosure
• Alabama has 2,223 properties currently in foreclosure 
• Hawaii has 2,210 properties currently in foreclosure 
• Minnesota has 2,169 properties currently in foreclosure 
• Colorado has 2,142 properties currently in foreclosure 
• Tennessee has 2,097 properties currently in foreclosure 
• Alaska has 2,078 properties currently in foreclosure 
• Virginia has 2,067 properties currently in foreclosure 
• Utah has 1,968 properties currently in foreclosure 
• Louisiana has 1,964 properties currently in foreclosure 
• District of Columbia has 1,923 properties currently in foreclosure
• Wyoming has 1,901 properties currently in foreclosure 
• Arkansas has 1,899 properties currently in foreclosure 
• Arizona has 1,780 properties currently in foreclosure 
• Pennsylvania has 1,752 properties currently in foreclosure 
• Texas has 1,583 properties currently in foreclosure 
• New Mexico has 1,575 properties currently in foreclosure 
• North Carolina has 1,525 properties currently in foreclosure 
• Iowa has 1,457 properties currently in foreclosure 
• Oklahoma has 1,436 properties currently in foreclosure
• California has 1,404 properties currently in foreclosure 
• Connecticut has 1,392 properties currently in foreclosure 
• Georgia has 1,358 properties currently in foreclosure 
• New York has 1,331 properties currently in foreclosure 
• Florida has 1,186 properties currently in foreclosure 
• South Carolina has 1,041 properties currently in foreclosure 
• Michigan has 1,029 properties currently in foreclosure 
• Indiana has 987 properties currently in foreclosure 
• Ohio has 985 properties currently in foreclosure 
• Nevada has 947 properties currently in foreclosure 
• Maryland has 897 properties currently in foreclosure 
• California, Texas, and Florida lead in foreclosure starts, driven by high housing demand and economic disparities 
• Seasonal foreclosure filings dropped 5% in November 2024 compared to October 
• Seasonal foreclosure filings were down 9% year-over-year in November 2024 

Sources: SoFi, Realtor, World Population Review, MagicDoor

Foreclosure Prevention and Mitigation Efforts

Intervention strategies are essential for preventing foreclosures and preserving homeownership. These statistics demonstrate how loan modifications, forbearance programs, and other mitigation efforts have successfully helped millions of families remain in their homes during financial hardship.

• Loan modifications and forbearance programs helped prevent a larger foreclosure crisis
• Home equity levels remained high, preventing a massive foreclosure crisis 
• During the first quarter of 2023, there were 58,268 recorded foreclosure prevention actions 
• These efforts helped about 6,066,666 families and individuals stay in their homes 
• A total of 58,120 home retention actions were taken, including loan modifications, repayment plans, forbearance plans, charge-offs-in-lieu, and payment deferrals 
• There were a total of 148 home forfeiture actions, such as short sales and deeds-in-lieu 
• The lower completed foreclosure auction rates in certain states may create the appearance that loss mitigation efforts are more effective in those areas. However, part of this effect is due to an above-average incidence of properties cycling in and out of foreclosure 
• Ohio had 3,489 vacant housing units due to foreclosure, the second-highest in the US 

Sources: The Mortgage Point, Scotsman Guide, DoorLoop

Conclusion

The 2025 foreclosure landscape shows a stabilized market below Great Recession levels, with regional variations and strong home equity positions preventing widespread crisis despite economic pressures. These statistics highlight how economic factors and regulatory interventions shape foreclosure outcomes, with state laws creating significant differences in timelines and completion rates. As housing market conditions evolve, monitoring foreclosure trends will remain essential for maintaining stability and identifying opportunities in distressed property markets.