A total of 93,953 U.S. properties saw foreclosure filings — default notices, scheduled auctions or bank repossessions — during the first quarter, an increase of 11% compared with the fourth quarter but down 2% from the first quarter of 2024, according to ATTOM’s Foreclosure Market Report.
Looking just at March, a total of 35,890 U.S. properties saw foreclosure filings for the month, up 11% compared with February and up 9% compared with March 2024.
“Following three consecutive quarters of decline, foreclosure activity ticked up in the first quarter of 2025, with notable growth in both starts and completions,” says Rob Barber, CEO at ATTOM, in the report. “While levels remain below historical averages, the quarterly growth suggests that some homeowners may be starting to feel the pressure of ongoing economic challenges. However, strong home equity positions in many markets continue to help buffer against a more significant spike in distress.”
Foreclosure starts continued to rise: A total of 68,794 U.S. properties started the foreclosure process in the first quarter, an increase of 14% compared with the previous quarter and up 2% from a year ago.
States that saw the greatest annual increases in foreclosure starts included Kansas (up 117%); Delaware (up 58%); Oklahoma (up 45%); Utah (up 42%); and Wyoming (up 33%).
Major cities that saw the highest number of foreclosure starts included Chicago (3,789), New York (3,566), Houston (3,046), Miami (2,028), and Philadelphia (1,985).
Bank repossessions increased 8% compared with the fourth quarter. Lenders repossessed 9,691 U.S. properties. However, that is down 4% from a year earlier.
States that had the greatest number of REOs in the first quarter included California (944), Texas (938), Illinois (712), Pennsylvania (711) and Michigan (665).
The average time to foreclose decreased 12% from previous quarter.
Properties foreclosed in the first quarter had been in the foreclosure process for an average of 671 days. That’s down 9% from a year earlier.
States with the longest average foreclosure timelines for homes foreclosed were Louisiana (3,038 days), Hawaii (2,274 days), Kentucky (1,993 days), Wisconsin (1,952 days), and New York (1,910 days).
States with the shortest average foreclosure timelines for homes foreclosed were New Hampshire (110 days), Texas (116 days), Wyoming (136 days), Minnesota (139 days) and Rhode Island (149 days).
Photo: Matthew Moloney
