October 8, 2025
Recent data from the real estate platform Redfin revealed Black homeownership rates are at their lowest level since 2021.
A new report from Marketplace shows that foreclosure activity, which includes default notices, auctions, and bank repossessions, increased by 18% in August compared to the same period last year.
It’s a trend that has been steadily on the rise across the United States for the past six months.
While foreclosure activity is not back to pre-pandemic levels, the increase is a sign of a troubled economy, according to experts.
According to CBS News, approximately 188,000 properties had foreclosure filings, putting the United States on track to surpass the more than 322,000 properties that went into foreclosure in 2024.
What’s Causing The Rise In Foreclosure Activity?
The uptick in foreclosure activity follows another trend: employment has slowed in the United States. Many Americans, particularly Black women, are finding themselves unemployed.
A report from Investopedia found that employers cut more than 54,000 jobs in September. There were 202,118 cuts in the third quarter, the most since 2020.
Black Americans were among the hardest hit among those unemployed. As of September, the unemployment rate for Black men was 7.1%. The number for Black women was 6.7%.
Marketplace chief economist Mike Fratantoni attributed the homeowner trouble to economic weakness, including rising unemployment and fewer job opportunities.
“People pay on their mortgages when they’re employed,” he said. “They lose their job, they’re much more likely to become delinquent…And it’s not like a lot more folks are becoming delinquent on their mortgage, but for folks that are falling behind, they’re having a more difficult time catching up.”
Other factors that are hurting homeowners include student loans and rising consumer delinquencies in auto loans and credit cards.
Recent data from the real estate platform Redfin revealed the lowest level in Black homeownership rates since 2021.
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