Foreclosures inched up in the first quarter and surged ahead of last year's levels in a manner that points to a change in dynamics, Attom reported Thursday.
The 118,727 properties with filings represented a 6% on a consecutive-quarter increase and a level 26% higher than a year earlier, the data and analytics firm found in its latest report.
That still leaves filings far from the Great Financial Crisis' highs above 900,000 but shows they are increasing more consistently and inching closer to the 150,000 range seen just as the pandemic was starting, prior to the implementation of a related foreclosure ban.
"The continued rise, especially in starts and bank repossessions, suggests financial pressure may be building for some homeowners and could signal shifting housing market dynamics," said Rob Barber, CEO at Attom, in a press release.
Repossessions, at 14,020, were up 2% on a consecutive quarter basis but 45% from the previous year. Starts inched closer to 100,000 during the quarter and largely drove the increase in total filings.
Foreclosure filings Attom tracks include real-estate owned properties that banks have repossessed in addition to notices related to defaults and auctions, such as lis pendens.
States that stand out
Total foreclosure filings were highest in Florida at 13,683, followed by California (12,318) and Texas (11,568).
When examining foreclosure starts alone the same top 3 states come up, but in a different order, with Texas leading at 10,617, followed by Florida (10,999) and then California (7,985).
Starts totaled 82,631 and were up 7% from three months earlier and 20% from the first quarter of 2025.
Foreclosure rates were highest in Indiana. One out of every 739 homes had a foreclosure in that state. One out of every 743 housing units in South Carolina had a foreclosure, which followed. Florida's number was similar at one out of every 750.
The average foreclosure rate for all states was one out of every 1,211 properties.
Other states recorded unusually long foreclosure timelines during the first quarter. An average foreclosure in Louisiana took 3,140 days. A typical foreclosure in Hawaii took 2,119 days. New York rounded out the top 3 at 1,911 days.
However, the average time to foreclosure declined 3% on a consecutive-quarter basis and 14% from a year earlier, with typical length being 577 days. Foreclosure timelines have declined for six quarters in a row.
Foreclosures can take less than 200 days in some states like Texas (165), West Virginia (178) and Alaska (192).
Overall, foreclosure completions measured by real-estate owned properties rose 42% on a consecutive-quarter basis at 5,229 in March
REO volumes increased most notably in Colorado. The numbers there rose from 99 to 321. Alabama followed with an increase from 153 to 355. Washington also saw a significant jump from 104 to 244.
