Lenders Are Seizing Homes—Here’s Where
Foreclosures are rising fast in key markets like Delaware and Illinois, with more filings showing up each week.
At the same time, Canada’s housing market is sliding, Baltimore developers are defaulting, and U.S. homeowners are stuck sitting on equity they can’t tap.
All signs point to growing pressure—and growing opportunity—for investors focused on finding undervalued or distressed properties.
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Top 10 U.S. Housing Markets with the Most Foreclosure Starts in March 2025
One in every 1,515 housing units had a foreclosure filing in Q1 2025. The states with the highest foreclosure rates were Delaware (one in every 761 housing units), Illinois (one in 857), Nevada (one in 874), Indiana (one in 976), and South Carolina (one in 1,021).
Foreclosure Activity Beginning to Rise
Following three consecutive quarters of decline, foreclosure activity ticked up in the first quarter of 2025, with notable growth in both starts and completions. Lenders repossessed 9,691 U.S. properties through foreclosure (REO) in Q1, up 8% from the previous quarter.
Sales Plunge, Supply Surges, Overall Prices Drop to Multi-Year Lows, Driven by Toronto
Home sales in Canada fell by 4.8% in March from February, seasonally adjusted, on top of the declines in the prior three months, and by 9.3% year-over-year, and by 20% from November, to the lowest level for any March since 2009.
More Baltimore Conversions Face Foreclosure
According to The Baltimore Banner, PMC Property Group defaulted on a $16.4 million renovation loan for the 11‑story building at 301 N. Charles St., and it’s not the only office‑to‑residential developer facing downtown Baltimore setbacks.
“Negative Credit Shocks” Holding U.S. Homeowners Back From Home Equity
Homebuyers who locked in interest rates between 2010 and 2021 now face a conundrum: their accumulated home equity is a substantial source of personal wealth, but high interest rates make it either impossible or prohibitively costly to access that wealth.
The 5 Best Metro Areas To Buy — and Sell — a Home This Spring
Buyers are in the driver’s seat this spring in Miami, New Orleans, Jacksonville, Tampa, and Memphis—homes are sticking around and price cuts are sizzling, so you’ve got the upper hand at the negotiating table.
