Foreclosure-related filings were up nearly 20 percent in October year-over-year, the latest worrying sign as the U.S. adjusts to the Trump administration’s economic policy.
Last month, there were 36,766 U.S. properties in some stage of the foreclosure process, real estate data from Attom found, a three percent spike over September and a 19 percent bump from the same period last year.
“Even with these increases, activity remains well below historic highs,” Attom CEO Rob Barber said in a statement. “The current trend appears to reflect a gradual normalization in foreclosure volumes as market conditions adjust and some homeowners continue to navigate higher housing and borrowing costs.”
The average 30-year fixed mortgage rate has climbed to 6.24 percent, Freddie Mac announced, up from 6.22 percent last week.
Even with a recent Federal Reserve rate cut, home sales were down 0.3 percent from a year earlier during the four-week period ending in November 9, according to Redfin, with listings on the market taking a median period of 49 days to go under contract, the longest duration for this time of year since 2019.
The housing data is a “a double-edged sword,” Lisa Sturtevant, chief economist for Bright MLS, told Bloomberg.
“While economic concerns and declining consumer confidence have held many buyers back this year, the outlook for continued uncertainty in 2026 might be leading some buyers to get into the market now to take advantage of rate drops and more inventory,” she said.
Americans are increasingly worried about the fate of the economy, and affordability is considered a key reason why Democrats did so well during off-year elections earlier this month.
President Trump has insisted affordability questions are a Democratic “con job” and prices on “everything” are “way down,” even though this is not true.
Average prices were 1.7 percent higher in September than they were when Trump took office in January, and are up three percent year-over-year, according to the latest federal data from the Consumer Price Index.
Making matters worse, the White House said this week key government jobs data from October will “likely never” be released because of the disruptions of the government shutdown.
Michael Burry, the investor made famous in The Big Short for predicting the 2008 financial crisis, has deregistered his hedge fund and launched a series of bets against major tech companies, arguing the U.S. in the midst of a bubble.
