Property data curator ATTOM released its May 2025 U.S. Foreclosure Market Report, which showed there were a total of 35,498 U.S. properties with foreclosure filings, down 1 percent from a month ago but up 9 percent from a year ago.
“Foreclosure activity in May reflected a mixed picture with fewer starts but a continued rise in completed foreclosures,” ATTOM CEO Rob Barber said in a release. “This suggests that while fewer new defaults are being initiated, lenders may still be working through a backlog of existing cases. We’ll be watching closely in the months ahead to see how these trends evolve.”
Delaware, Florida, Illinois post highest rates
Nationwide, one in every 4,009 housing units had a foreclosure filing in May. States with the worst foreclosure rates were Delaware (one in every 2,313 housing units with a foreclosure filing); Florida (one in every 2,536); Illinois (one in every 2,668); Nevada (one in every 2,747); and Indiana (one in every 2,983).
Among the 110 metropolitan statistical areas with a population of at least 500,000, those with the worst foreclosure rates in May were Lakeland, Fla. (one in every 1,506 housing units with a foreclosure filing); Cape Coral, Fla. (one in every 1,674); Jacksonville, Fla. (one in every 1,888); Bakersfield, Calif. (one in every 1,990); and Riverside, Calif. (one in every 2,031).
Those metro areas with a population greater than 1 million with the worst foreclosure rates in May including Jacksonville and Riverside were: Cleveland (one in every 2,064 housing units); San Antonio (one in every 2,202); and Chicago (one in every 2,203).
Most foreclosure starts in Texas, Florida,California
Lenders started the foreclosure process on 24,165 properties in May , down 4 percent from last month but up 8 percent from a year ago.
States that had the greatest number of foreclosure starts included: Texas (3,077); Florida (2,780); California (2,641); Illinois (1,242); and New York (1,222).
Those major metro areas with a population greater than 1 million that had the greatest number of foreclosure starts in May included: New York (1,174); Chicago (1,084); Houston (1,017); Los Angeles (782); and Miami (740).
Foreclosure completion numbers increase
Lenders repossessed 3,844 properties through completed foreclosures (REOs) in May , up 7 percent from last month and up 34 percent from last year.
States that had the greatest number of REOs in May included: Texas (460 REOs); California (300 REOs); Pennsylvania (257 REOs); Michigan (236 REOs); and Florida (234 REOs).
Those major metro statistical areas with a population greater than 1 million that saw the greatest number of REOs in May included: Chicago (305 REOs); New York (119 REOs); Houston (114 REOs); Detroit (102 REOs); and Dallas (97 REOs).