10 STATES STILL BATTLING HIGH FORECLOSURE RATES
Artcicle by: Daily Real Estate News | Monday, August 13, 2012
Several states continue to be plagued with high foreclosure rates. RealtyTrac reported last week that foreclosure starts rose 6 percent year-over-year, which is the third consecutive month for increases following what had been more than a year of declines.
California has the highest foreclosure rate in the country, according to RealtyTrac, with one in every 325 housing units receiving a foreclosure filing in July (more than twice the national average). California had the highest foreclosure rate in the country despite an 11 percent decline month-over-month and a 25 percent drop year-over-year, according to RealtyTrac.
The states with the highest foreclosure rates in July RealtyTrac’s most recent data are:
- California: 1 in every 325 housing units
- Arizona: 1 in every 346 housing units
- Florida: 1 in every 352 housing units
- Georgia: 1 in every 376 housing units
- Illinois: 1 in every 385 housing units
- Nevada: 1 in every 415 housing units
- Michigan: 1 in every 518 housing units
- Ohio: 1 in every 528 housing units
- South Carolina: 1 in every 536 housing units
- Indiana: 1 in every 665 housing units
Source: RealtyTrac; Daily Real Estate News (August 13, 2012) | Blog distribution provided by Kenneth Bargers and Bargers Solutions, proud member of Pilkerton Realtors, residential real estate services located in Nashville, Tennessee