I’ve been watching the ATTOM data pretty closely this year, and the trend is clear — foreclosure filings are climbing steadily. February 2026 showed 38,840 properties with filings nationwide, up 20% from a year ago. That’s twelve straight months of year-over-year increases.
Here’s the deal — this isn’t 2008. We’re not heading into a crisis. What we’re seeing is a normalization. The pandemic-era moratoriums and forbearance programs kept foreclosure numbers artificially low for years, and now the pipeline is catching up to where it probably should have been all along.
For vendors, this is good news if you’re positioned for it. More foreclosure starts means more initial secures, more inspections, more grass cuts on vacant properties. The volume is building, and it’s building steadily rather than spiking — which means you can actually plan for it.
Let’s look at where the work is concentrated. Florida logged 3,250 foreclosure starts in February alone, making it one of the top three states alongside Texas (3,390) and California (2,440). Indiana, South Carolina, and Florida are leading the nation in overall foreclosure rates.
The metro areas to watch are Lakeland, FL (one filing per 1,075 housing units), Punta Gorda, FL, and Indianapolis, IN. If you’re operating anywhere near those markets, volume is going to keep ticking up through the rest of the year.
Completed foreclosures — the properties that actually become REO and need the most preservation work — jumped 35% from a year ago. That’s the number that matters most for vendors doing the hands-on work. More REOs mean more initial secures, more winterizations, more cleanouts.
The bottom line: if you’ve been running lean and wondering when the next wave of work was coming, this is it. It’s not a tsunami — it’s a steady tide. Get your crews ready, keep your documentation tight, and make sure your pricing is competitive. The vendors who are ready to absorb this volume reliably are the ones who’ll build the strongest client relationships over the next 12 to 18 months.