Foreclosures Rise Nationally, Led by Nevada, SC, Florida

Foreclosure filings continued to rise nationally in July, with 39,906 properties experiencing a foreclosure filing. This figure represents a 1% increase from June and a 10% increase compared to July of the previous year, according to the latest U.S. Foreclosure Market Report from real estate analytics firm ATTOM. Despite this uptick, foreclosure activity remains below pre-pandemic levels observed in 2019. Nevada, South Carolina, and Florida recorded the highest foreclosure rates across the United States last month. Nationally, 0.03% of all homes had a foreclosure filing in July. Nevada's foreclosure rate was double the national average at 0.06%. South Carolina followed with 0.05% of its housing units experiencing a foreclosure filing, and Florida's rate stood at 0.04%. Mike Sibley, a CPA and partner at James Moore, an accounting and tax firm, noted that while these states show higher foreclosure rates, it is crucial to consider the underlying factors. These include housing costs, affordability, local economic conditions, household cash flow, and the financial pressure on homeowners. In Florida, homeowners have been contending with escalating insurance premiums and declining home prices, which increases the risk of homeowners owing more on their mortgage than their property is worth, especially for those who purchased at peak market values. Sibley explained that homeowners have diminished capacity to absorb financial shocks such as job loss or increased mortgage payments. Among major metropolitan areas with populations exceeding 200,000, Punta Gorda, Florida, reported the nation's highest foreclosure rate in July 2026. With a median listing price of $370,000, Punta Gorda had one foreclosure filing for every 899 housing units. Killeen, Texas, followed with a rate of 1 in every 1,359 housing units, and Las Vegas recorded a rate of 1 in every 1,394 units. These three cities are situated within the Sun Belt region, an area that has been significantly impacted by rising property insurance costs, often linked to climate-related disasters. The report also indicated that cities heavily reliant on specific industries or experiencing economic downturns might also see elevated foreclosure rates.