Foreclosures Rise as Homeownership Costs Climb
As of August 2025, U.S. foreclosure filings have increased for six consecutive months and were up about 18% year‑over‑year, driven by higher homeownership costs — insurance, taxes, utilities and repairs — and economic strains such as job losses and mortgage‑rate resets. Property data firm ATTOM reported roughly 188,000 foreclosure filings through June and projects the U.S. may exceed 2024’s roughly 322,000 foreclosures if current trends continue; analysts from DePaul’s Institute for Housing Studies and ATTOM cite insurance spikes, variable‑rate resets and slower hiring as key pressures.
Economy
Housing
📌 Key Facts
- Foreclosure filings rose 18% year‑over‑year as of August 2025 (ATTOM).
- About 188,000 U.S. properties had foreclosure filings through June 2025; 2024 saw roughly 322,000 foreclosures.
- Average property‑coverage cost for single‑family homeowners with a mortgage is $2,370/year — nearly 70% higher than five years ago (ICE Mortgage Technology).
- Research cited: roughly 94% of mortgage defaults follow income loss (Urban Institute citing NBER).
- Experts quoted: Geoff Smith (Institute for Housing Studies, DePaul University) and Todd Teta (ATTOM).