The foreclosure rate in the United States has experienced significant fluctuations over the past two decades, reaching its peak in 2010 at 2.23 percent following the financial crisis. Since then, the rate has steadily declined, with a notable drop to 0.11 percent in 2021 due to government interventions during the COVID-19 pandemic. In 2024, the rate stood slightly higher at 0.23 percent but remained well below historical averages, indicating a relatively stable housing market. Impact of economic conditions on foreclosures The foreclosure rate is closely tied to broader economic trends and housing market conditions. During the aftermath of the 2008 financial crisis, the share of non-performing mortgage loans climbed significantly, with loans 90 to 180 days past due reaching 4.6 percent. Since then, the share of seriously delinquent loans has dropped notably, demonstrating a substantial improvement in mortgage performance. Among other things, the improved mortgage performance has to do with changes in the mortgage approval process. Homebuyers are subject to much stricter lending standards, such as higher credit score requirements. These changes ensure that borrowers can meet their payment obligations and are at a lower risk of defaulting and losing their home. Challenges for potential homebuyers Despite the low foreclosure rates, potential homebuyers face significant challenges in the current market. Homebuyer sentiment worsened substantially in 2021 and remained low across all age groups through 2024, with the 45 to 64 age group expressing the most negative outlook. Factors contributing to this sentiment include high housing costs and various financial obligations. For instance, in 2023, 52 percent of non-homeowners reported that student loan expenses hindered their ability to save for a down payment.

Foreclosed rental properties registered with the Chicago Department of Housing under the Keep Chicago Renting ordinance.

Prior to 12/12/2022, Owner and Owner Management Agent addresses could not be registered through the registration site so no City, State, or ZIP columns were present in this dataset. Because all previously existing records had Chicago addresses for Owner and Owner Agent, the City and State columns were populated when added to this dataset but ZIP values are only available from 12/12/2022 forward.

The Property Address is always in Chicago.

************************In early 2025, the source of MCLIO public layers will change.*****************************

Please refer to these documents for changes:

https://mclio.maps.arcgis.com/home/item.html?id=0bb68bbae37445adb045d6a44fed3f2a

https://mclio.maps.arcgis.com/home/item.html?id=79c6c9d737c94753a388db7c6f480149

Please update maps, apps and data connections accordingly!Sheriff sales covering four full quarters prior to the data export date shown in the 'DATE_MCLIO' field. Includes fields added by MCLIO to provide additional information and to enable the mapping of Sheriff sale records. Sheriff Sale records that include more than one property are tagged as 'MULTIPLE' in the 'COMMENT_MCLIO' field in the 'PAR_MCSO_FORECLOSURE' table. 'PAR_MCSO_FORECLOSURE_PLY' includes one parcel polygon per 'PAR_MCSO_FORECLOSURE' record where Sheriff Sale records could be associated with MCLIO parcel geometries based on Sheriff sale addresses. If a geometry could not be associated with a Sheriff sale record (due to multiple properties per record or an invalid/malformed Sheriff sale address), the record will not be represented in 'PAR_MCSO_FORECLOSURE_PLY'. However, records not represented in 'PAR_MCSO_FORECLOSURE_PLY are retained in the 'PAR_MCSO_FORECLOSURE' table.

Following the drastic increase directly after the COVID-19 pandemic, the delinquency rate started to gradually decline, falling to 3.37 percent in the second quarter of 2023. In the four quarters, the delinquency rate increased slightly, reaching 3.97 percent. That was significantly lower than the 8.22 percent during the onset of the COVID-19 pandemic in the second quarter of 2020 or the peak of 9.3 percent during the subprime mortgage crisis of 2007-2010. What does the mortgage delinquency rate tell us?The mortgage delinquency rate is the share of the total number of mortgaged home loans in the U.S. where payment is overdue by 30 days or more. Many borrowers are eventually able to service their loan, though, as indicated by the markedly lower foreclosure rates. Total home mortgage debt in the U.S. stood at almost 13 trillion U.S. dollars in 2023. Not all mortgage loans are made equal‘Subprime’ loans, being targeted at high-risk borrowers and generally coupled with higher interest rates to compensate for the risk. These loans have far higher delinquency rates than conventional loans. Defaulting on such loans was one of the triggers for the 2007-2010 financial crisis, with subprime delinquency rates reaching almost 26 percent around this time. These higher delinquency rates translate into higher foreclosure rates, which peaked at just under 15 percent of all subprime mortgages in 2011.

Graph and download economic data for Delinquency Rate on Single-Family Residential Mortgages, Booked in Domestic Offices, All Commercial Banks (DRSFRMACBS) from Q1 1991 to Q4 2024 about domestic offices, delinquencies, 1-unit structures, mortgage, family, residential, commercial, domestic, banks, depository institutions, rate, and USA.

Thailand SMTB: Assets: Properties Foreclosed: Net data was reported at 0.000 THB th in Jan 2025. This stayed constant from the previous number of 0.000 THB th for Dec 2024. Thailand SMTB: Assets: Properties Foreclosed: Net data is updated monthly, averaging 0.000 THB th from Jan 2022 (Median) to Jan 2025, with 37 observations. The data reached an all-time high of 0.000 THB th in Jan 2025 and a record low of 0.000 THB th in Jan 2025. Thailand SMTB: Assets: Properties Foreclosed: Net data remains active status in CEIC and is reported by Bank of Thailand. The data is categorized under Global Database’s Thailand – Table TH.KB062: Balance Sheet: Thai Bank: Sumimoto Mitsui Trust Bank (Thai).

Thailand TTB: Assets: Properties Foreclosed: Net data was reported at 13,036,022.000 THB th in Jan 2025. This records a decrease from the previous number of 13,104,160.000 THB th for Dec 2024. Thailand TTB: Assets: Properties Foreclosed: Net data is updated monthly, averaging 10,602,079.000 THB th from May 2021 (Median) to Jan 2025, with 45 observations. The data reached an all-time high of 13,372,163.000 THB th in Nov 2024 and a record low of 3,012,013.000 THB th in Jun 2021. Thailand TTB: Assets: Properties Foreclosed: Net data remains active status in CEIC and is reported by Bank of Thailand. The data is categorized under Global Database’s Thailand – Table TH.KB059: Balance Sheet: Thai Bank: TMBThanachart Bank.

As of March 2024, the 30-day delinquency rate for commercial mortgage-backed securities (CMBS) varied per property type. The share of late payments for office CMBS was the highest at over 6.58 percent, about two percentage points higher than the average for all asset classes. A 30-day delinquency refers to payments that are one month late, regardless of how many days the month has. Commercial mortgage-backed securities are fixed-income investment products which are backed by mortgages on commercial property.

Graph and download economic data for Delinquency Rate on Commercial Real Estate Loans (Excluding Farmland), Booked in Domestic Offices, All Commercial Banks (DRCRELEXFACBS) from Q1 1991 to Q4 2024 about farmland, domestic offices, delinquencies, real estate, commercial, domestic, loans, banks, depository institutions, rate, and USA.