Are Foreclosures Rising Again? What July’s Numbers Really Mean for Homeowners

Another 2008? Not So Fast…

You may have seen headlines about rising foreclosure activity in the U.S.—especially in Nevada. As a Las Vegas homeowner or buyer, it’s natural to wonder: Are we headed back to 2008?

The short answer: No. Foreclosures are ticking up, but today’s housing market looks very different from the crisis 15 years ago.

What the Latest Report Shows

According to ATTOM’s July 2025 U.S. Foreclosure Market Report:

  • 36,128 properties nationwide had a foreclosure filing in July—up 11% from June and 13% from last year (ATTOM).
  • Nevada leads the nation, with 1 in every 2,326 homes receiving a foreclosure notice.
  • In the Las Vegas metro area, the rate is 1 in every 1,914 homes—placing our city among the top large metros for foreclosure activity.

These increases are worth paying attention to, especially here at home.

How This Compares to 2008

Here’s why today’s situation is not a repeat of the Great Recession:

  • In 2008, lenders filed on over 2.3 million properties—more than 60 times higher than what we’re seeing monthly now (Evergreen Home Loans).
  • At the peak, nearly 1 in 10 mortgages nationwide was delinquent or in foreclosure (Wikipedia).
  • In Nevada, some neighborhoods had 1 in every 23 homes in foreclosure—versus today’s 1 in 2,326.

So while percentages look dramatic—“up 13% year-over-year”—it’s important to remember that the starting point is historically low.

What’s Driving the Increase Now

  • Higher mortgage rates: Buyers who stretched to afford homes in the last 2 years may be under pressure.
  • Cost of living: Rising household expenses are leaving some homeowners short each month.
  • Normalizing levels: After years of ultra-low foreclosure activity, we’re seeing numbers move closer to long-term averages.

What This Means for You

If you’re a homeowner:

  • Having equity in your home is a huge buffer. Most owners today can sell before facing foreclosure.
  • If you’re concerned about payments, talk to your lender early—options exist.

If you’re a buyer:

  • More foreclosures may slowly add inventory to the market, but this is still a very different landscape than 2008.
  • Well-priced homes in Las Vegas continue to attract strong demand.

Bottom Line

Yes, Nevada is topping the charts again for foreclosure rates, and that matters. But today’s numbers—while rising—are a fraction of the crisis levels we saw in 2008. Most homeowners have more equity, better loans, and more options.

This is a moment to stay informed, not panicked.

If you’d like to know more about how these trends could affect your home’s value—or your buying plans here in Las Vegas—I’m always here as a resource.

-GZ