Home Foreclosures Soar Nationwide: What It Means for St. Petersburg Buyers and Sellers
The phrase “Home Foreclosures Soar Nationwide” has been in the headlines recently, sparking concern among homeowners and potential buyers. According to the latest ATTOM Data Solutions report, July 2025 saw nearly 36,130 properties across the United States receive a foreclosure filing—up 13% compared to last year.
As a Realtor with Avalon Group Realty here in St. Petersburg, I want to break down what these numbers mean, how they may impact Florida, and—most importantly—why St. Petersburg remains a fantastic place to live, invest, and thrive.
Understanding the Rise in Foreclosures
National Snapshot
Across the U.S., foreclosure activity is trending upward. July alone saw a significant increase in foreclosure filings compared to both June and last year. One in every 3,939 housing units nationwide is experiencing foreclosure activity, including default notices, scheduled auctions, and bank repossessions.
Rob Barber, CEO of ATTOM, put it clearly:
“July’s foreclosure activity continues to trend upward year over year, with increases in both starts and completions. While rising home prices are helping many owners maintain equity, the steady climb in filings suggests growing pressure in some markets.”
Florida’s Position
Florida unfortunately ranked second in the nation for foreclosure rates, with 1 in every 2,420 homes impacted. Major metro areas like Miami and Jacksonville saw foreclosure numbers spike.
But while those numbers might sound intimidating, let’s put things in perspective. Foreclosures in Florida are heavily concentrated in certain markets, often tied to seasonal employment and tourism-driven economies.
Why Florida and Nevada Are Hit Hard
The Tourism Connection
Economists point to local economies tied closely to tourism. As Joel Berner from Realtor.com® noted:
“Florida and Nevada both have local economies that are heavily reliant on the tourism industry. Tourism tends to be volatile, and when economic growth slows, that industry is often the first and most painfully impacted.”
This ripple effect can cause some homeowners to struggle with mortgage payments. However, here in St. Petersburg, our economy is more diverse. With growth in healthcare, technology, and education sectors, the city is more resilient than many other Florida metros.
A Local Perspective from Avalon Group Realty
Aaron Hunt, Broker of Avalon Group Realty
Aaron Hunt, our Broker, offers reassurance:
“Yes, the national numbers are concerning. But in St. Petersburg, we’re still seeing strong buyer demand, stable property values, and a balanced market. This city continues to attract people who want a coastal lifestyle with year-round sunshine. For both buyers and sellers, opportunities are still abundant.”
Yvette Kim, Realtor
Yvette Kim highlights the buyer side:
“For St Petersburg Home Buyers, the rise in foreclosures can create openings to purchase homes below market value. However, competition remains high, so working with a knowledgeable Realtor is key to securing these opportunities.”
Pam Amante, Realtor
Pam Amante emphasizes resilience in the market:
“St. Petersburg has weathered economic cycles before. What sets us apart is that people want to live here. From world-class beaches to thriving arts and dining scenes, homes here hold long-term value, even in the face of national challenges.”
Nora Sturgill, Realtor
Nora Sturgill adds a seller’s perspective:
“If you’re thinking about Selling Your Home in St Petersburg, the news about foreclosures might feel unsettling. But remember—our local demand remains strong. Well-priced, well-prepared homes are still moving quickly.”
Turning Challenges Into Opportunities
For Buyers
More Inventory: With foreclosures rising, more properties will hit the market, giving buyers choices.
Equity Advantage: Falling mortgage rates (6.58% as of August 14, 2025) mean affordability is improving.
Investment Potential: Distressed properties often allow buyers to build instant equity with renovations.
For Sellers
Less Direct Competition: While foreclosures exist, distressed homes are often in need of repair. Move-in ready homes shine even brighter in comparison.
Strong Demand: St. Petersburg continues to see population growth, driving steady housing demand.
Equity Growth: Many homeowners still sit on significant equity, protecting them from being underwater.
Home Foreclosures Soar Nationwide—But Here’s the Good News
Even though Home Foreclosures Soar Nationwide, St. Petersburg homeowners are in a unique position. Falling mortgage rates and a healthy inflow of new residents seeking the Florida lifestyle keep our housing market stable.
As Aaron Hunt puts it:
“Every market shift creates opportunities. In St. Petersburg, the opportunity is for buyers to get into the market while rates are dropping, and for sellers to highlight the stability of our community compared to more volatile areas.”
Practical Tips for St Petersburg Home Buyers
Get Pre-Approved Early: Competitive homes move quickly. A pre-approval shows sellers you’re serious.
Work with Local Experts: Our Avalon Group team knows which neighborhoods are likely to see foreclosure listings and which remain strongest.
Think Long-Term: Don’t just buy a deal—buy in a location that matches your lifestyle and goals.
Practical Tips for Selling Your Home in St Petersburg
Price Strategically: Overpricing in a shifting market can stall your sale.
Stage for Success: Highlight move-in readiness to stand out from foreclosure properties.
Market Aggressively: Use online marketing, video tours, and social media to capture attention.
Frequently Asked Questions (FAQ)
Why are foreclosures rising across the U.S.?
Rising living costs, slowing job growth, and reliance on volatile industries like tourism have pushed some homeowners into default.
Are foreclosure rates rising in St. Petersburg too?
While Florida ranks high, St. Petersburg remains relatively stable thanks to a diversified economy and steady buyer demand.
What opportunities exist for buyers?
Buyers may find foreclosures priced below market value, but should be prepared to act quickly and potentially renovate.
Is now a good time to sell in St. Petersburg?
Yes. With mortgage rates easing and strong local demand, Selling Your Home in St Petersburg remains profitable—especially for well-maintained, move-in-ready properties.
Should I be worried about buying in St. Petersburg during this time?
Not at all. Our city continues to grow, attract new residents, and offer strong long-term value.
The Takeaway: Why St. Petersburg Remains Strong
Despite alarming national headlines like Home Foreclosures Soar Nationwide, the St. Petersburg market continues to prove its resilience. Whether you’re a first-time buyer, a seasoned investor, or a homeowner considering selling, now is a prime time to make your move.
As Yvette Kim said, “There’s always opportunity if you have the right guidance.” And that’s exactly what Avalon Group Realty provides.
Bullet Point Recap
National foreclosures rose 13% year-over-year in July 2025.
Florida ranks #2 for foreclosure rates, but St. Petersburg remains stable.
Buyers benefit from more options and falling mortgage rates.
Sellers can still achieve strong results by pricing and marketing strategically.
St. Petersburg’s diverse economy and lifestyle appeal keep housing demand steady.
Final Thoughts from Rob Johnson
As your trusted local Realtor, I want to reassure you: even when Home Foreclosures Soar Nationwide, St. Petersburg shines as a place of stability, opportunity, and beauty. Our team at Avalon Group Realty is here to help you navigate this market with confidence and optimism.
Connect with Avalon Group Realty
For more Tampa Bay real estate tips, market updates, and insider information:
👥 Join Our Community:
Follow us on social media for daily tips, beautiful property showcases, and real-time market updates:
🌐 Visit us at AvalonGroupTampaBay.com
📞 Contact Aaron Hunt, Broker: 727-262-7920
