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.

The number of properties with foreclosure filings in the United States rose in 2023, but remained below the pre-pandemic level. Foreclosure filings were reported on approximately 357,000 properties, which was about 33,000 more than in 2022. Despite the increase, 2023 saw one of the lowest foreclosure rates on record.

Graph and download economic data for Large Bank Consumer Mortgage Balances: 30 or More Days Past Due: Including Foreclosures Rates: Balances Based (RCMFLBBALDPDPCT30P) from Q3 2012 to Q3 2024 about 30 days +, FR Y-14M, large, balance, mortgage, consumer, banks, depository institutions, rate, and USA.

In the second quarter of 2024, the share of mortgage loans in the foreclosure process in the U.S. decreased slightly to 0.43 percent. Following the outbreak of the coronavirus crisis, mortgage delinquency rates spiked to the highest levels since the Subprime mortgage crisis (2007-2010). To prevent further impact on homeowners, Congress passed the CARES Act that provides foreclosure protections for borrowers with federally backed mortgage loans. As a result, the foreclosure rate fell to historically low levels.

In the second quarter of 2024, the share one-to-four family residential mortgage loans entering the foreclosure process in the U.S. was 0.13 percent. Following the coronavirus pandemic outbreak in 2020, mortgage delinquency rates surged, followed by a gradual decline. Between the second quarter of 2020 and the first quarter of 2022, foreclosures remained at record low levels due to The Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

This statistic shows the foreclosure rates of subprime conventional loans in the United States from 2000 to 2016. In 2016, 7.2 percent of subprime conventional loans were in foreclosure.

This statistic shows the foreclosure filings in the United States as of June 2017, by state. South Dakota had the lowest rate with only one in every 24,583 housing units being subject to foreclosure.

About three percent of U.S. homeowners with a mortgage who were behind on mortgage payments in October 2023 were very likely to face eviction in the next two months due to a foreclosure. Additionally, 18 percent of the respondents were somewhat likely to be evicted. In 2022, the foreclosure rate in the U.S. picked up, after a long period of steady decline after the subprime mortgage crisis.

Graph and download economic data for Nonfarm Real Estate Foreclosures for United States (M09075USM476NNBR) from Jan 1934 to Mar 1963 about real estate, nonfarm, and USA.

United States - Delinquency Rate on Loans Secured by Real Estate, Banks Ranked 1st to 100th Largest in Size by Assets was 1.91% in October of 2024, according to the United States Federal Reserve. Historically, United States - Delinquency Rate on Loans Secured by Real Estate, Banks Ranked 1st to 100th Largest in Size by Assets reached a record high of 11.49 in January of 2010 and a record low of 1.31 in October of 2004. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Delinquency Rate on Loans Secured by Real Estate, Banks Ranked 1st to 100th Largest in Size by Assets - last updated from the United States Federal Reserve on March of 2025.

Monthly foreclosures in Connecticut by county, 2008 through the present. Data updated monthly by the Connecticut Housing Finance Authority and tracked in the following dashboard: https://www.chfa.org/about-us/ct-monthly-housing-market-dashboard/.

CHFA has stopped maintaining the dashboard and associated datasets, and this dataset will no longer be updated as of 2022.

This statistic presents the share of federal housing administration loans entering the foreclosure process in the United States from 2000 to 2018. The share of federal housing administration loans entering the foreclosure process decreased from 2.3 percent in 2000 to 2 percent in 2018.

Under the effects of the coronavirus pandemic, delinquency rates surged for all loan types in 2020. Nevertheless, due the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), foreclosure rates remained low.

The primary purpose of this project was to evaluate the possible link between foreclosure and crime in America. The project addressed three specific questions: (1) Are levels of foreclosure significantly associated with crime rates across neighborhoods after controlling for other factors?; (2) Is any observed effect of foreclosure on neighborhood crime rates contingent on (i.e., moderated by) other neighborhood conditions, including pre-existing structural disadvantage, pre-existing vacancy rates, or racial and ethnic context?; and (3) Does the effect of foreclosure rates on neighborhood crime levels vary across cities in systematic ways?

Annual residential mortgage arrears and foreclosure rates in Canada and the U.S. from 1990 to 2013. This table is archived for reference, research and record-keeping purposes only. It is not subject to Government of Canada Web Standards and has not been altered or updated since it was archived.

This statistic presents the share of prime conventional loans in the foreclosure process in the United States from 2005 to 2018. The share of prime conventional loans in the foreclosure process was 0.9 percent in 2005 and it remained the same in 2018. Under the effects of the coronavirus pandemic, delinquency rates surged for all loan types in 2020. Nevertheless, due the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), foreclosure rates remained low.

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.

This statistic presents the share of veterans administration loans entering the foreclosure process in the United States from 2000 to 2018. The share of veterans administration loans entering the foreclosure process decreased from 1.5 percent in 2000 to 1.1 percent in 2018.

Under the effects of the coronavirus pandemic, delinquency rates surged for all loan types in 2020. Nevertheless, due the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), foreclosure rates remained low.

This statistic presents the number of housing units with foreclosure filings in the United States from 2006 to 2014. The number of properties with foreclosure filings decreased from approximately 2.82 million in 2009 to approximately 1.12 million in 2014.

How Banks Can Avoid a Repeat of the 2008 Foreclosure Crisis?

Global Pandemic has crashed many economies socially, politically as well as financially. It has marked the onset of the Foreclosure crisis as were seen from 2007 to 2010. The U.S. is one of the most severely hit economies of the world. U.S. homeowners struggle to remain on top of their mortgage payments — and the situation may only get worse. As o.....

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.