U.S. Foreclosures Spike: Completed Repossessions Jump 32%
U.S. foreclosure activity continued to rise last month, with completed lender takeovers surging 32% year-over-year, according to new data from real-estate analytics firm ATTOM.
Follow The Coffman Chronicle on NewsBreak for daily breaking political coverage.
In October, 36,766 properties received a foreclosure filing — including default notices, scheduled auctions, or bank repossessions — marking a 19% increase from the same month in 2024.
The biggest spike came in completed repossessions, known as REOs, which climbed 32% compared to last year. Foreclosure starts — when borrowers first enter the process — were also up roughly 20% year-over-year.
States posting the highest foreclosure rates included Florida, South Carolina, Illinois, Delaware, and Nevada.
ATTOM analysts say the rise reflects tightening household budgets amid higher borrowing costs and housing expenses. Despite the increase, overall foreclosure levels remain well below the peak seen during the 2008 housing crisis.
The trend marks the eighth straight month of year-over-year increases, signaling continued pressure on some homeowners heading into the winter housing season.
Follow The Coffman Chronicle on NewsBreak for ongoing housing and economic coverage.