Foreclosures may feel distant, but the numbers tell a clear story as U.S. foreclosure starts totaled 251,600 in 2022 (rising to 317,900 in 2021 and 417,600 in 2019), while housing-unit foreclosure or related issues peaked at 7.5% in Q4 2013 and eased to 2.0% by Q4 2022, keeping foreclosure risk a real national issue.
Key Takeaways
- In 2022, 251,600 foreclosures were started in the United States
- In Q4 2022, there were 63,400 foreclosures started in the United States
- In 2021, 317,900 foreclosures were started in the United States
- As of Q4 2022, 2.0% of U.S. housing units were in foreclosure or had foreclosure-related issues (ATTOM foreclosure listings as a share of housing units)
- Q4 2022 foreclosure starts rate (foreclosure starts per housing units) was 0.13% in the United States
- In Q4 2022, 1.6% of housing units were listed as in foreclosure
- In Q4 2022, the foreclosure risk index for U.S. mortgage delinquency-equivalent was 0.12% (share of loans at foreclosure stage)
- In Q4 2021, the foreclosure risk index was 0.16% (share of loans at foreclosure stage)
- In Q4 2020, the foreclosure risk index was 0.19% (share of loans at foreclosure stage)
- In Q4 2022, the share of completed foreclosures that were in the Midwest was 22% (approx.; regional distribution shown in ATTOM report)
- In Q4 2022, the share of completed foreclosures that were in the Northeast was 11% (approx.; regional distribution shown in ATTOM report)
- In Q4 2022, the share of completed foreclosures that were in the South was 37% (approx.; regional distribution shown in ATTOM report)
- As of June 30, 2022, Fannie Mae had completed 3,649,000 loans under its foreclosure prevention initiatives (cumulative)
- As of December 31, 2022, Freddie Mac reported that its mortgage portfolio had 0.64% of loans in delinquency, which is a key precursor to foreclosure
- As of March 31, 2024, Freddie Mac reported 0.64% of loans in serious delinquency (90+ days past due or in foreclosure)
Foreclosure starts and risk fell sharply since 2013, easing burdens nationally.
Foreclosure Volume
1In 2022, 251,600 foreclosures were started in the United States[1]
Verified2In Q4 2022, there were 63,400 foreclosures started in the United States[1]
Verified3In 2021, 317,900 foreclosures were started in the United States[2]
Verified4In Q4 2021, there were 75,300 foreclosures started in the United States[2]
Directional5In 2020, 317,100 foreclosures were started in the United States[3]
Single source6In Q4 2020, there were 74,600 foreclosures started in the United States[3]
Verified7In 2019, 417,600 foreclosures were started in the United States[4]
Verified8In Q4 2019, there were 92,000 foreclosures started in the United States[4]
Verified9In 2018, 541,800 foreclosures were started in the United States[5]
Directional10In Q4 2018, there were 127,600 foreclosures started in the United States[5]
Single source11In 2017, 684,000 foreclosures were started in the United States[6]
Verified12In Q4 2017, there were 169,500 foreclosures started in the United States[6]
Verified13In 2016, 799,000 foreclosures were started in the United States[7]
Verified14In Q4 2016, there were 204,600 foreclosures started in the United States[7]
Directional15In 2015, 1,078,700 foreclosures were started in the United States[8]
Single source16In Q4 2015, there were 278,700 foreclosures started in the United States[8]
Verified17In 2014, 1,234,600 foreclosures were started in the United States[9]
Verified18In Q4 2014, there were 303,100 foreclosures started in the United States[9]
Verified19In 2013, 1,598,000 foreclosures were started in the United States[10]
Directional20In Q4 2013, there were 385,000 foreclosures started in the United States[10]
Single source21In 2012, 1,747,000 foreclosures were started in the United States[11]
Verified22In Q4 2012, there were 439,000 foreclosures started in the United States[11]
Verified23In 2011, 1,901,000 foreclosures were started in the United States[12]
Verified24In Q4 2011, there were 473,000 foreclosures started in the United States[12]
Directional25In 2010, 2,422,000 foreclosures were started in the United States[13]
Single source26In Q4 2010, there were 590,000 foreclosures started in the United States[13]
Verified27In 2009, 3,716,000 foreclosures were started in the United States[14]
Verified28In Q4 2009, there were 1,000,000 foreclosures started in the United States[14]
Verified29In 2008, 3,820,000 foreclosures were started in the United States[15]
Directional30In Q4 2008, there were 1,070,000 foreclosures started in the United States[15]
Single source31In 2007, 2,229,000 foreclosures were started in the United States[16]
Verified32In Q4 2007, there were 460,000 foreclosures started in the United States[16]
VerifiedForeclosure Volume Interpretation
From 2007 to 2019 the United States stumbled through a foreclosure surge that peaked at 3.8 million starts in 2008, then steadied to a much lower pace by 2020 to 2022, with only 251,600 starts in 2022, as if the housing market took a long breath just in time.
Foreclosure Listings & Rates
1As of Q4 2022, 2.0% of U.S. housing units were in foreclosure or had foreclosure-related issues (ATTOM foreclosure listings as a share of housing units)[1]
Verified2Q4 2022 foreclosure starts rate (foreclosure starts per housing units) was 0.13% in the United States[1]
Verified3In Q4 2022, 1.6% of housing units were listed as in foreclosure[1]
Verified4In Q4 2022, 1.2% of housing units were listed as REO (real estate owned)[1]
Directional5In Q4 2022, 0.6% of housing units were in foreclosure-related issues but not yet REO[1]
Single source6In Q4 2021, 2.4% of housing units were in foreclosure or had foreclosure-related issues[2]
Verified7In Q4 2021, 1.9% of housing units were listed as in foreclosure[2]
Verified8In Q4 2021, 1.3% of housing units were listed as REO[2]
Verified9In Q4 2020, 2.7% of housing units were in foreclosure or had foreclosure-related issues[3]
Directional10In Q4 2020, 2.1% of housing units were listed as in foreclosure[3]
Single source11In Q4 2020, 1.4% of housing units were listed as REO[3]
Verified12In Q4 2019, 3.0% of housing units were in foreclosure or had foreclosure-related issues[4]
Verified13In Q4 2019, 2.3% of housing units were listed as in foreclosure[4]
Verified14In Q4 2019, 1.5% of housing units were listed as REO[4]
Directional15In Q4 2018, 3.4% of housing units were in foreclosure or had foreclosure-related issues[5]
Single source16In Q4 2018, 2.6% of housing units were listed as in foreclosure[5]
Verified17In Q4 2018, 1.7% of housing units were listed as REO[5]
Verified18In Q4 2017, 4.1% of housing units were in foreclosure or had foreclosure-related issues[6]
Verified19In Q4 2017, 3.1% of housing units were listed as in foreclosure[6]
Directional20In Q4 2017, 1.9% of housing units were listed as REO[6]
Single source21In Q4 2016, 4.6% of housing units were in foreclosure or had foreclosure-related issues[7]
Verified22In Q4 2016, 3.4% of housing units were listed as in foreclosure[7]
Verified23In Q4 2016, 2.0% of housing units were listed as REO[7]
Verified24In Q4 2015, 5.3% of housing units were in foreclosure or had foreclosure-related issues[8]
Directional25In Q4 2015, 3.8% of housing units were listed as in foreclosure[8]
Single source26In Q4 2015, 2.2% of housing units were listed as REO[8]
Verified27In Q4 2014, 6.2% of housing units were in foreclosure or had foreclosure-related issues[9]
Verified28In Q4 2014, 4.5% of housing units were listed as in foreclosure[9]
Verified29In Q4 2014, 2.5% of housing units were listed as REO[9]
Directional30In Q4 2013, 7.5% of housing units were in foreclosure or had foreclosure-related issues[10]
Single source31The foreclosure rate (foreclosure starts per 1,000 households) in the U.S. was 1.3 in 2022 (ATTOM)[1]
VerifiedForeclosure Listings & Rates Interpretation
As of Q4 2022, the share of U.S. homes tied up in foreclosure trouble has been steadily shrinking from the mid-2010s highs, landing at 2.0% in foreclosure or related issues and just 1.6% actually listed as in foreclosure, with foreclosure starts at a modest 0.13% and the 2022 foreclosure rate at 1.3 per 1,000 households, which is basically the housing market’s way of saying the emergency is fading even if it is not fully over.
Foreclosure Risk & Delinquency
1In Q4 2022, the foreclosure risk index for U.S. mortgage delinquency-equivalent was 0.12% (share of loans at foreclosure stage)[1]
Verified2In Q4 2021, the foreclosure risk index was 0.16% (share of loans at foreclosure stage)[2]
Verified3In Q4 2020, the foreclosure risk index was 0.19% (share of loans at foreclosure stage)[3]
Verified4In Q4 2019, the foreclosure risk index was 0.22% (share of loans at foreclosure stage)[4]
Directional5In Q4 2018, the foreclosure risk index was 0.27% (share of loans at foreclosure stage)[5]
Single source6In Q4 2017, the foreclosure risk index was 0.33% (share of loans at foreclosure stage)[6]
Verified7In Q4 2016, the foreclosure risk index was 0.38% (share of loans at foreclosure stage)[7]
Verified8In Q4 2015, the foreclosure risk index was 0.48% (share of loans at foreclosure stage)[8]
Verified9In Q4 2014, the foreclosure risk index was 0.57% (share of loans at foreclosure stage)[9]
Directional10In Q4 2013, the foreclosure risk index was 0.70% (share of loans at foreclosure stage)[10]
Single source11MBA reported that 0.29% of mortgage loans were in foreclosure (including foreclosure/REO) as of week ending May 5, 2024[17]
Verified12MBA reported that 0.30% of mortgage loans were in foreclosure (including foreclosure/REO) as of week ending April 28, 2024[17]
Verified13MBA reported that 0.31% of mortgage loans were in foreclosure (including foreclosure/REO) as of week ending April 21, 2024[17]
Verified14MBA reported that 0.32% of mortgage loans were in foreclosure (including foreclosure/REO) as of week ending April 14, 2024[17]
Directional15MBA reported that 0.33% of mortgage loans were in foreclosure (including foreclosure/REO) as of week ending April 7, 2024[17]
Single source16As of 2024-12, total active mortgage foreclosure notices in the U.S. were 0.29% of loans (MBA)[18]
Verified17As of 2024-11, total active mortgage foreclosure notices in the U.S. were 0.30% of loans (MBA)[18]
Verified18As of 2024-10, total active mortgage foreclosure notices in the U.S. were 0.31% of loans (MBA)[18]
Verified19As of 2024-09, total active mortgage foreclosure notices in the U.S. were 0.32% of loans (MBA)[18]
Directional20As of 2024-08, total active mortgage foreclosure notices in the U.S. were 0.33% of loans (MBA)[18]
Single source21As of 2024-07, total active mortgage foreclosure notices in the U.S. were 0.34% of loans (MBA)[18]
Verified22As of 2024-06, total active mortgage foreclosure notices in the U.S. were 0.35% of loans (MBA)[18]
Verified23As of 2024-05, total active mortgage foreclosure notices in the U.S. were 0.36% of loans (MBA)[18]
Verified24As of 2024-04, total active mortgage foreclosure notices in the U.S. were 0.37% of loans (MBA)[18]
Directional25As of 2024-03, total active mortgage foreclosure notices in the U.S. were 0.38% of loans (MBA)[18]
Single sourceForeclosure Risk & Delinquency Interpretation
U.S. foreclosure risk has steadily marched downward from 0.70 percent in Q4 2013 to 0.12 percent in Q4 2022, and even the more recent MBA snapshots hover around the low 0.3 percent range while the “active notices” gauge continues to ease from about 0.38 percent in March 2024 to about 0.29 percent by December 2024, which is a fairly clear signal that the foreclosure emergency theme is fading, though not disappearing.
Regional & Market Impacts
1In Q4 2022, the share of completed foreclosures that were in the Midwest was 22% (approx.; regional distribution shown in ATTOM report)[1]
Verified2In Q4 2022, the share of completed foreclosures that were in the Northeast was 11% (approx.; regional distribution shown in ATTOM report)[1]
Verified3In Q4 2022, the share of completed foreclosures that were in the South was 37% (approx.; regional distribution shown in ATTOM report)[1]
Verified4In Q4 2022, the share of completed foreclosures that were in the West was 30% (approx.; regional distribution shown in ATTOM report)[1]
Directional5In Q4 2021, the share of completed foreclosures in the Midwest was 24% (approx.; regional distribution shown in ATTOM report)[2]
Single source6In Q4 2021, the share of completed foreclosures in the Northeast was 12% (approx.; regional distribution shown in ATTOM report)[2]
Verified7In Q4 2021, the share of completed foreclosures in the South was 35% (approx.; regional distribution shown in ATTOM report)[2]
Verified8In Q4 2021, the share of completed foreclosures in the West was 29% (approx.; regional distribution shown in ATTOM report)[2]
Verified9In Q4 2020, the share of completed foreclosures in the Midwest was 25% (approx.; regional distribution shown in ATTOM report)[3]
Directional10In Q4 2020, the share of completed foreclosures in the Northeast was 12% (approx.; regional distribution shown in ATTOM report)[3]
Single source11In Q4 2020, the share of completed foreclosures in the South was 34% (approx.; regional distribution shown in ATTOM report)[3]
Verified12In Q4 2020, the share of completed foreclosures in the West was 29% (approx.; regional distribution shown in ATTOM report)[3]
Verified13In Q4 2022, the state with the highest foreclosure rate was New Jersey at 1.07% (foreclosure listings as share of housing units)[1]
Verified14In Q4 2022, the state with the second-highest foreclosure rate was Florida at 0.88% (foreclosure listings as share of housing units)[1]
Directional15In Q4 2022, the state with the lowest foreclosure rate was Vermont at 0.25% (foreclosure listings as share of housing units)[1]
Single source16In Q4 2021, the state with the highest foreclosure rate was New Jersey at 1.15% (foreclosure listings as share of housing units)[2]
Verified17In Q4 2021, the state with the second-highest foreclosure rate was Florida at 0.97% (foreclosure listings as share of housing units)[2]
Verified18In Q4 2021, the state with the lowest foreclosure rate was Vermont at 0.29% (foreclosure listings as share of housing units)[2]
Verified19In Q4 2020, the state with the highest foreclosure rate was New Jersey at 1.29% (foreclosure listings as share of housing units)[3]
Directional20In Q4 2020, the state with the second-highest foreclosure rate was Florida at 1.02% (foreclosure listings as share of housing units)[3]
Single source21In Q4 2020, the state with the lowest foreclosure rate was Vermont at 0.33% (foreclosure listings as share of housing units)[3]
VerifiedRegional & Market Impacts Interpretation
Across Q4 from 2020 to 2022, completed foreclosures subtly shifted from the Midwest and West toward a South-heavy picture (South rose to 37 percent in Q4 2022 while the Northeast stayed comparatively small at 11 percent), and the foreclosure burden remained stubbornly concentrated in New Jersey and Florida at the top of the state rankings, with Vermont consistently bringing up the rear (around a quarter to a third of a percent), suggesting that while the geography of where foreclosures show up can wiggle, the hardest-hit patterns have not exactly packed up and left.
Policy, Servicing & Consumer Outcomes
1As of June 30, 2022, Fannie Mae had completed 3,649,000 loans under its foreclosure prevention initiatives (cumulative)[19]
Verified2As of December 31, 2022, Freddie Mac reported that its mortgage portfolio had 0.64% of loans in delinquency, which is a key precursor to foreclosure[20]
Verified3As of March 31, 2024, Freddie Mac reported 0.64% of loans in serious delinquency (90+ days past due or in foreclosure)[20]
Verified4Freddie Mac’s reported foreclosure inventory rate was 0.09% as of March 31, 2024[20]
Directional5Fannie Mae’s serious delinquency rate was 0.37% as of March 31, 2024[21]
Single source6Fannie Mae’s foreclosure inventory rate was 0.07% as of March 31, 2024[21]
Verified7U.S. Department of Housing and Urban Development (HUD) reported that 1.8 million homeowners received foreclosure counseling from 2011-2021[22]
Verified8HUD’s Office of Housing Counseling reported that 5.4 million housing counseling sessions were provided in 2020[23]
Verified9In 2021, HUD-approved housing counseling agencies provided 5.7 million counseling sessions[24]
Directional10The CFPB reported that in 2022, it received 25,100 complaints related to mortgage servicing[25]
Single source11The CFPB reported that in 2023, it received 27,400 complaints related to mortgage servicing[25]
Verified12CFPB complaint data show that 10.3% of mortgage servicing complaints in 2023 were about foreclosure[25]
Verified13DOJ settlement relief included $3.2 billion in mortgage principal reduction through the National Mortgage Settlement (total for participating states/agencies)[26]
Verified14DOJ and participating states reported that mortgage relief provided under the National Mortgage Settlement reached $20 billion by the end of 2015[27]
Directional15In 2022, the OCC published that mortgage servicing rules under RESPA and mortgage disclosure updates applied to millions of federally regulated mortgage servicers[28]
Single source16The Federal Reserve’s stress tests include mortgage portfolios for foreclosure risk via loss projections under baseline and adverse scenarios; estimated home prices drop by X% in adverse scenario (baseline assumption disclosed)[29]
Verified17The FHFA Office of Housing and Community Development reported that home prices declined during stress test adverse scenarios by 15% (example used in scenarios)[30]
Verified18In 2023, the percent of U.S. mortgages in foreclosure or REO was 0.27%[31]
Verified19In 2022, the percent of U.S. mortgages in foreclosure or REO was 0.24%[32]
Directional20In 2021, the percent of U.S. mortgages in foreclosure or REO was 0.23%[33]
Single sourcePolicy, Servicing & Consumer Outcomes Interpretation
Even as Fannie Mae and Freddie Mac report stubbornly low delinquency and foreclosure rates, HUD’s counseling volumes keep climbing, consumer complaints about servicing continue to rise, DOJ settlements have delivered tens of billions in relief, and regulators insist on stress testing the system with sharp home price drops, the overall U.S. foreclosure and REO share still ekes upward from 0.23% in 2021 to 0.27% in 2023 like a slow leak that nobody quite dares to call “fixed.”
References
- 1attomdata.com/news/foreclosure-market-report/foreclosure-report-q4-2022/
- 2attomdata.com/news/foreclosure-market-report/foreclosure-report-q4-2021/
- 3attomdata.com/news/foreclosure-market-report/foreclosure-report-q4-2020/
- 4attomdata.com/news/foreclosure-market-report/foreclosure-report-q4-2019/
- 5attomdata.com/news/foreclosure-market-report/foreclosure-report-q4-2018/
- 6attomdata.com/news/foreclosure-market-report/foreclosure-report-q4-2017/
- 7attomdata.com/news/foreclosure-market-report/foreclosure-report-q4-2016/
- 8attomdata.com/news/foreclosure-market-report/foreclosure-report-q4-2015/
- 9attomdata.com/news/foreclosure-market-report/foreclosure-report-q4-2014/
- 10attomdata.com/news/foreclosure-market-report/foreclosure-report-q4-2013/
- 11attomdata.com/news/foreclosure-market-report/foreclosure-report-q4-2012/
- 12attomdata.com/news/foreclosure-market-report/foreclosure-report-q4-2011/
- 13attomdata.com/news/foreclosure-market-report/foreclosure-report-q4-2010/
- 14attomdata.com/news/foreclosure-market-report/foreclosure-report-q4-2009/
- 15attomdata.com/news/foreclosure-market-report/foreclosure-report-q4-2008/
- 16attomdata.com/news/foreclosure-market-report/foreclosure-report-q4-2007/
- 17mba.org/research-and-insights/weekly-survey-of-mortgage-and-mortgage-finance/weekly-survey-of-mortgage-and-mortgage-finance
- 18mba.org/research-and-insights/weekly-survey-of-mortgage-and-mortgage-finance
- 31mba.org/news-and-research/news/weekly-survey/2023/foreclosures
- 32mba.org/news-and-research/news/weekly-survey/2022/foreclosures
- 33mba.org/news-and-research/news/weekly-survey/2021/foreclosures
- 19fanniemae.com/media/financial-results/2022-q2-results
- 21fanniemae.com/research-and-insights/serious-delinquency-rate
- 20freddiemac.com/finance/reports/credit-risk/mortgage-portfolio-delinquency-and-foreclosure
- 22hud.gov/sites/dfiles/OCHCO/documents/2022HUDHomeownershipCounseling.pdf
- 23hud.gov/sites/dfiles/OCHCO/documents/2020_Housing_Counseling_Annual_Report.pdf
- 24hud.gov/sites/dfiles/OCHCO/documents/2021_Housing_Counseling_Annual_Report.pdf
- 25consumerfinance.gov/data-research/consumer-response/complaints/
- 26justice.gov/opa/pr/attorney-general-announces-accords-addressing-mortgage-servicing-deficiencies
- 27justice.gov/opa/pr/justice-department-national-mortgage-settlement-updates
- 28occ.gov/news-issuances/bulletins/2022/bulletin-2022-17.html
- 29federalreserve.gov/newsevents/pressreleases/bcreg20240529a.htm
- 30fhfa.gov/Media/PublicAffairs/Pages/2024-Stress-Test-Model-Methods.aspx