Saturday, July 26, 2008
US Foreclosures Still on the Rise
According to Realty Tracs Results of 2008 2nd Quarter foreclosure filings, Foreclosures are up by 14% in the US. Nationally, 1 out of every 176 households received a foreclosure filing during the second quarter.
Foreclosures in California, Nevada, Arizona, and Florida continue to dominate the nationwide foreclosures. In Nevada, one out of every 43 homes received a foreclosure. In Las Vegas the number is even higher at 1 out of every 35 homes. In California the number is one out of every 65 households, in Arizona it's 1 out of every 70, and in Florida 1 out of every 78 homes received a foreclosure notice in the last three months. Because these states have such large populations (especially California and Florida) and so many foreclosures, only 9 states actually have more foreclosures than the national average. Even Areas Like Chicago Illinois where the real estate market seemed immuned from housing problems have seen foreclosures rise.
For more information visit the full report at Realty Trac.