Foreclosure Rates Rise in California cities, Illinois, Nevada, an ominous sign for home ownership

According to ATTOM’s February 2025 U.S. Foreclosure Market Report, foreclosure filings nationwide reached 32,383 — a 5% increase from January but a 1.7% drop from last year.

Modesto, CA, reported the highest foreclosure rate among metropolitan areas with one in every 1,486 housing units facing foreclosure. Riverside, CA, also ranked high, with one in every 2,166 housing units in foreclosure.

Other affected cities included Chicago, IL (one in 2,007), Las Vegas, NV (one in 2,044), and Philadelphia, PA (one in 2,195).

“February’s rise in foreclosure filings suggests evolving market pressures,” said ATTOM CEO Rob Barber. States like New York, South Carolina, and New Jersey showed significant REO declines.