Foreclosure Activity Rises Again In November 2025

U.S. foreclosure activity in November 2025 increased sharply compared with a year earlier, even though it ticked down a bit from October.​

Key national numbers

• About 35,651 properties had a foreclosure filing (default notice, scheduled auction, or bank repossession), down 3% from October but up 21% from November 2024.​

• Roughly 1 in every 3,992 housing units faced a foreclosure filing nationwide in November 2025.​

Starts and completed foreclosures

• Foreclosure starts: Lenders began foreclosure on about 23,720 properties, 6% lower than October but 17% higher than a year earlier.​

• Completed foreclosures (REOs): Lenders repossessed 3,884 properties, essentially flat month over month but up 26% versus November 2024.​

States most affected

• States with the highest foreclosure activity rates included Delaware, South Carolina, Nevada, New Jersey, and Florida.​

• By raw foreclosure starts, Florida (2,819), Texas (2,612), California (2,090), New York (1,146), and Illinois (1,075) led the nation in November 2025.​

Trend during 2025

• November marked the ninth straight month of year‑over‑year increases in foreclosure activity, continuing an upward trend seen throughout 2025.​

• Analysts describe the pattern as a normalization from unusually low pandemic-era levels, driven by high housing costs, elevated borrowing rates, and localized economic pressures rather than a single regional shock.​