U.S. FORECLOSURE ACTIVITY INCREASES MONTHLY IN FEBRUARY 2025

Completed Foreclosures (REOs) Decline from Previous Year; Foreclosure Starts Up Monthly and Annually Nationwide

IRVINE, Calif., March 11, 2025 /PRNewswire/ -- ATTOM, a leading curator of land, property data, and real estate analytics, today released its February 2025 U.S. Foreclosure Market Report, which shows there were a total of 32,383 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions – up 5 percent from the prior month but down 1.7 percent from a year ago.

"February's rise in foreclosure filings suggests evolving market pressures," said Rob Barber, CEO at ATTOM. "While some increase may reflect seasonal trends, the uptick in foreclosure starts both month-over-month and year-over-year signals potential shifts. We'll continue monitoring how economic factors influence foreclosure activity moving forward."

Foreclosure completion numbers continue annual decline
Lenders repossessed 3,031 U.S. properties through completed foreclosures (REOs) in February 2025, up just under 2 percent from last month but down 11 percent from a year ago – continuing a trend of declining annual REO numbers seen in 12 of the last 13 months. 

States that had at least 50 or more REOs and that saw the greatest annual decline in February 2025 included: New York (down 49 percent); South Carolina (down 44 percent); New Jersey (down 43 percent); Pennsylvania (down 35 percent); and Ohio (down 34 percent).

Among the 225 metropolitan statistical areas with a population of at least 200,000, that saw the greatest number of REOs included: Chicago, IL (154 REOs); Houston, TX (101 REOs); St. Louis, MO (91 REOs); Detroit, MI (87 REOs); and Philadelphia, PA (78 REOs).

Highest foreclosure rates in Delaware, Illinois, and Nevada
Nationwide one in every 4,395 housing units had a foreclosure filing in February 2025. States with the highest foreclosure rates were Delaware (one in every 2,278 housing units with a foreclosure filing); Illinois (one in every 2,333 housing units); Nevada (one in every 2,435 housing units); New Jersey (one in every 2,695 housing units); and South Carolina (one in every 2,816 housing units).

Those major metropolitan statistical areas (MSAs) with a population greater than 200,000, with the highest foreclosure rates in February 2025 were Modesto, CA (one in every 1,486 housing units with a foreclosure filing); Lakeland, FL (one in every 1,863 housing units); Columbia, SC (one in every 2,006 housing units); Chicago, IL (one in every 2,007 housing units); and Atlantic City, NJ (one in every 2,032 housing units).

Other than Chicago, among the metropolitan areas with a population greater than 1 million, those with the worst foreclosure rates in February 2025 included: Las Vegas, NV (one in every 2,044 housing units); Riverside, CA (one in every 2,166 housing units), Philadelphia, PA (one in every 2,195 housing units), and Jacksonville, FL (one in every 2,445 housing units).

Foreclosure starts increase monthly and annually
Lenders started the foreclosure process on 22,730 U.S. properties in February 2025, up 8 percent from last month and up 1 percent from a year ago.

Those states that had 100 or more foreclosure starts and saw the greatest monthly increase in foreclosures starts in February 2025 included: New Jersey (up 78 percent from last month); Colorado (up 58 percent); Iowa (up 57 percent); Georgia (up 42 percent); and South Carolina (up 29 percent).

Among those major metropolitan statistical areas with a population of at least 200,000, those with the greatest number of foreclosure starts in February 2025, included: New York, NY (1,387 foreclosure starts); Chicago, IL (1,367 foreclosure starts); Houston, TX (1,050 foreclosure starts); Philadelphia, PA (743 foreclosure starts); and Dallas, TX (651 foreclosure starts).

Report methodology
The ATTOM U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the ATTOM Data Warehouse during the month and quarter. Some foreclosure filings entered into the database during the quarter may have been recorded in the previous quarter. Data is collected from more than 3,000 counties nationwide, and those counties account for more than 99 percent of the U.S. population. ATTOM's report incorporates documents filed in all three phases of foreclosure: Default — Notice of Default (NOD) and Lis Pendens (LIS); Auction — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). For the annual, midyear and quarterly reports, if more than one type of foreclosure document is received for a property during the timeframe, only the most recent filing is counted in the report. The annual, midyear, quarterly and monthly reports all check if the same type of document was filed against a property previously. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state where the property is located, the report does not count the property in the current year, quarter or month.

About ATTOM
ATTOM provides premium property data and analytics that power a myriad of solutions that improve transparency, innovation, digitization and efficiency in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 30TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include ATTOM Cloud, bulk file licenses, property data APIs, real estate market trends, property navigator and more. Also, introducing our newest innovative solution, making property data more readily accessible and optimized for AI applications – AI-Ready Solutions.

Media Contact:
Megan Hunt
Megan.hunt@attomdata.com

Data and Report Licensing:
949.502.8313
datareports@attomdata.com

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SOURCE ATTOM