Foreclosure activity is climbing steadily in 2025. This statistical roundup covers national trends, state-by-state breakdowns, and commercial real estate distress patterns that matter most to debt collection professionals.
National Foreclosure Overview
- Total US properties with foreclosure filings in the first half of 2025 reached 187,659, up 5.8% from the first half of 2024.
- The national foreclosure rate in H1 2025 was 1 in every 758 housing units (0.13%).
- Q2 2025 foreclosure filings totaled 100,687 properties, up 7% from Q1 2025 and up 13% from Q2 2024.
- July 2025 foreclosure filings reached 36,128 properties, up 11% from June 2025 and up 13% annually.
- Q1 2025 total foreclosure filings were 93,953 properties, up 11% quarterly but down 2% annually.
- March 2025 foreclosure filings totaled 35,890 properties, up 11% from February and up 9% from March 2024.
Foreclosure Starts Statistics
- Foreclosure starts in H1 2025 reached 140,006 properties, up 7% from first half 2024 and up 41% from first half 2020.
- Q1 2025 foreclosure starts totaled 68,794 properties, up 14% quarterly and up 2% annually.
- July 2025 foreclosure starts were 24,302 properties, up 12% monthly and up 11% annually.
- June 2025 foreclosure starts totaled 21,782 properties, down 10% from May but up 17% from June 2024.
Bank Repossessions (REO) Activity
- REO completions in H1 2025 totaled 21,007 properties, up 12% from first half 2024 but down 7% from first half 2023.
- July 2025 completed foreclosures (REOs) were 3,866 properties, down 1% monthly but up 18% annually.
- June 2025 completed foreclosures totaled 3,892 properties, up 1% monthly and up 35% from June 2024.
State-Level Foreclosure Rates
- Illinois and Delaware tied for the worst foreclosure rates in H1 2025 at 0.23% of housing units with foreclosure filings.
- Nevada’s foreclosure rate in H1 2025 was 0.21% of housing units, ranking third nationally.
- Florida’s foreclosure rate in H1 2025 was 0.21% of housing units, tied for fourth worst nationally.
- South Carolina‘s foreclosure rate in H1 2025 was 0.20% of housing units, ranking fifth nationally.
- Nevada’s July 2025 foreclosure rate was 1 in every 2,326 housing units.
Top States by Foreclosure Volume
- Texas led all states with 17,680 foreclosure starts in H1 2025.
- Florida ranked second with 15,198 foreclosure starts in H1 2025.
- California had 14,751 foreclosure starts in H1 2025, maintaining third position nationally.
- Illinois recorded 7,922 foreclosure starts in H1 2025, representing the fourth highest volume.
- New York had 6,585 foreclosure starts in H1 2025, rounding out the top five states.
Repossessions Volume by State
- Texas led all states with 2,207 REO properties in H1 2025.
- California had 1,799 REO properties in H1 2025, ranking second in completed foreclosures.
- Pennsylvania recorded 1,461 REO properties in H1 2025, representing the third highest REO volume.
- Illinois had 1,439 REO properties in H1 2025, maintaining fourth position.
- Michigan recorded 1,260 REO properties in H1 2025, completing the top five for REO activity.
Metropolitan Area Statistics
- Chicago had 3,789 foreclosure starts in Q1 2025, representing the highest metro volume nationally.
- New York City recorded 3,566 foreclosure starts in Q1 2025, ranking second among major metropolitan areas.
- Houston had 3,046 foreclosure starts in Q1 2025, maintaining third position in metro rankings.
- Miami recorded 2,028 foreclosure starts in Q1 2025, representing the fourth highest metro volume.
- Philadelphia had 1,985 foreclosure starts in Q1 2025, completing the top five metropolitan areas.
Foreclosure Timeline Statistics
- The average foreclosure timeline in Q2 2025 was 645 days, down 4% from the previous quarter and down 21% annually.
- The average foreclosure timeline in Q1 2025 was 671 days, representing a 12% decrease from Q4 2024.
- Wyoming had the shortest foreclosure timeline at 125 days average for properties foreclosed in Q2 2025.
- Texas had the second shortest foreclosure timeline at 135 days average, reflecting efficient non-judicial processes.
- New Hampshire had a 149 days average foreclosure processing time.
- Louisiana had the longest foreclosure timeline at 3,612 days average (nearly 10 years).
- Hawaii had the second longest foreclosure timeline at 2,746 days average (over 7.5 years).
- Nevada’s foreclosure timeline averaged 1,974 days (over 5 years).
Mortgage Delinquency Context
- The national mortgage delinquency rate in Q1 2025 was 4.04%, up 6 basis points quarterly and up 10 basis points annually.
- The national mortgage delinquency rate in Q2 2025 was 3.93%, down 11 basis points from Q1 but remaining above historic averages.
- Foreclosure actions started on 0.20% of loans in Q1 2025, up 5 basis points from the previous quarter.
- Foreclosure actions started on 0.17% of loans in Q2 2025, down 3 basis points from Q1.
- The nationwide foreclosure inventory rate was 0.48% in Q2 2025, up 5 basis points annually.
Government Loan Performance
- VA loans in the foreclosure process reached 0.84% in Q1 2025, representing the highest level since Q4 2019.
- The VA delinquency rate was 4.63% in Q1 2025, down 7 basis points quarterly but showing foreclosure increases.
- The FHA delinquency rate was 10.62% in Q1 2025, down 41 basis points quarterly but remaining elevated.
- The conventional loan delinquency rate was 2.70% in Q1 2025, up 8 basis points from the previous quarter.
- OCC-supervised banks initiated 10,667 new foreclosures in Q1 2025, up 44% from 7,408 in Q1 2024.
Year-over-Year Regional Changes
- Alaska‘s foreclosure activity increased 55% in H1 2025 compared to first half 2024.
- Rhode Island’s foreclosure activity increased 51% in H1 2025 year-over-year.
- Wyoming and Utah each saw 46% increases in foreclosure activity in H1 2025.
- Colorado’s foreclosure activity increased 41% in H1 2025 year-over-year.
- The average mortgage balance nationwide in 2025 was $267,700, up $7,288 from 2024, representing a 2.8% annual increase.
Commercial & Office Foreclosure Statistics
- Texas commercial foreclosures increased 129% year-over-year in 2024, reaching 55 properties in March 2024 compared to 24 in March 2023.
- CMBS office delinquency rate hit a record 11.66% in August 2025, up from 7.97% in August 2024.
- Overall CMBS delinquency rate reached an all-time high of 7.29% in August 2025, up for the sixth consecutive month.
- Office sector CMBS delinquencies spiked to 11.08% in June 2025, surpassing the previous peak of 10.7% from July 2012.
- Commercial real estate distressed transactions jumped to 10.8% in 2024, indicating growing market stress.
- National office vacancy rate reached 19.9% in March 2025, up 170 basis points year-over-year.
- Multifamily CMBS delinquency rate reached 6.86% in August 2025, the highest level since December 2015.
- CMBS loans totaling $1.4 billion became newly delinquent in July 2025, with 57.7% involving maturity defaults.
Conclusion
The foreclosure landscape in 2025 reflects a market under gradual but persistent pressure, with residential foreclosures showing steady increases while remaining below historical peaks. The commercial real estate sector, particularly office properties, faces unprecedented distress with CMBS delinquency rates reaching record highs. This creates significant opportunities for debt collection agencies and asset recovery specialists, particularly in commercial real estate where distressed transactions are becoming increasingly common.
Primary Sources
- ATTOM Data Solutions. (2025). Mid-Year 2025 U.S. Foreclosure Market Report.
- ATTOM Data Solutions. (2025). July 2025 U.S. Foreclosure Market Report.
- Mortgage Bankers Association. (2025). National Delinquency Survey Q1 2025.
- Mortgage Bankers Association. (2025). National Delinquency Survey Q2 2025.
- Office of the Comptroller of the Currency. (2025). Mortgage Metrics Report Q1 2025.
- Federal Housing Finance Agency. (2025). Foreclosure Prevention Report Q1 2025.
- CoreLogic. (2025). Loan Performance Insights Report December 2024.
- RealtyTrac. (2025). Market Reports and Foreclosure Data.
- Trepp. (2025). CMBS Delinquency Reports July-August 2025.
- KBRA. (2025). CMBS Loan Performance Trends June-July 2025.
- RSM US. (2025). Navigating Office Sector Distress in 2025.
- U.S. Department of Housing and Urban Development. (2025). FHA Single Family Loan Performance Trends.
All statistics reflect data and expert analysis as of Q3 2025. Only high-authority industry sources, government agencies, and leading foreclosure data providers are used for accuracy and reliability.
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