U.S. foreclosures hit six-year high as insurance and property tax costs rise
Foreclosures in the U.S. reached their highest level in six years during the first quarter of 2025, with nearly 119,000 properties receiving foreclosure filings — a 26% increase year-over-year. The rise is attributed to homeowners being squeezed by increasing insurance costs and property tax bills. This marks the highest foreclosure activity since the first quarter of 2020, before COVID-era mortgage relief measures drove filings down sharply.
Key quotes
Foreclosures rose to the highest level in six years in the first quarter of this year as homeowners are squeezed by rising costs related to insurance and property tax bills.
The number of U.S. properties with a foreclosure filing has trended up to nearly 119,000 in the first quarter, an increase of 26% from the same period last year.
That figure is the highest since the first quarter of 2020, when mortgage relief measures implemented to mitigate the economic impact of COVID shutdowns led to a steep decline in foreclosures.
From the article
Foreclosure filings hit nearly 119,000 in the first quarter of 2025, a 26% increase from last year, as homeowners face rising insurance and property tax burdens.
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