Foreclosure activity doesn’t move in a straight line. It comes in waves. Some months bring a surge of new filings, reflecting fresh financial pressure on homeowners. Others—like November 2025—signal a cooling period in early-stage filings, even though deeper in the foreclosure pipeline, auctions and REOs continue to rise.
For real estate investors, the “Foreclosure Starts” stage—also known as the first public filing—remains one of the most important signals. It offers the earliest insight into where distress is beginning to surface, and where motivated seller activity may soon emerge.
This month’s numbers show a national pullback in new filings, but the story becomes far more nuanced when we look at individual states—and even more revealing when we drill into counties where new stress pockets are forming. Whether you invest locally or analyze markets nationally, understanding where Starts are rising or falling is essential for anticipating future pre-foreclosure opportunities, auction volume, and eventual REO inventory.
National Foreclosure Starts Decline, but Year-Over-Year Trend Remains Elevated
According to the latest data from ATTOM, November 2025 recorded 23,239 Foreclosure Starts nationwide, down 7.65% month over month, but still 16.80% higher year over year than November 2024.
The monthly decline indicates a short-term slowdown in new filings after a busy October. However, the year-over-year increase confirms distress levels remain structurally higher than last year.
The bigger picture? Even with seasonal and monthly fluctuations, early-stage foreclosure activity is trending upward nationally—which means investors should pay attention…