The Pipeline
4.75 — down from 6.55 a year ago; the foreclosure pipeline is draining
What is the current The Pipeline?
Foreclosure starts versus completions tracks the flow of properties entering the foreclosure process relative to those exiting it through completed sales or bank repossession. When starts exceed completions, the pipeline of distressed properties is growing — a forward-looking signal that more foreclosed inventory will hit the housing market in coming quarters. Source: ATTOM Data Solutions.
U.S. foreclosure filings were reported on 367,460 properties in 2025, up 14 percent from 2024, with foreclosure starts rising 14 percent to 289,441 and bank repossessions up 27 percent to 46,439, reflecting continued market normalization while remaining well below pre-pandemic levels.
Tracking improving relative to recent baseline.
Explore Further
Is this happening to you?
Do you know someone who has lost their home to foreclosure?
How has The Pipeline changed over time?
| Period | Value | YoY Change |
|---|---|---|
| Dec 2025 | 4.75 | −1.80 |
| Sep 2025 | 6.29 | — |
| Jun 2025 | 5.6 | — |
| Dec 2024 | 6.55 | — |
Frequently Asked Questions
What does foreclosure starts vs. completions measure?
It compares the number of properties entering the foreclosure process (starts) with those exiting it (completions — either sold at auction or repossessed by the bank). When starts exceed completions, the pipeline of distressed properties is growing.
Why does the pipeline ratio matter?
A growing foreclosure pipeline means more distressed properties will hit the market in 12–18 months, potentially putting downward pressure on home prices in affected neighborhoods. It is a leading indicator of future housing inventory and price effects.
Where does foreclosure starts and completions data come from?
ATTOM Data Solutions tracks foreclosure activity from county recorder offices nationwide, broken down by default notices (starts), scheduled auctions, and bank repossessions (completions). Data is published quarterly.
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