Foreclosure rates are still high and climbing!



REALTOR® Magazine - Daily News

Daily Real Estate News October 13, 2006

Foreclosure Rate Still Soars, Led by Colorado

Nationwide, more than 112,200 homes entered some stage of foreclosure in September, a decrease of less than 1 percent from August and a whopping 63 percent jump from the same month last year, according to data from RealtyTrac, an online marketplace for foreclosed properties.

The report also shows a national foreclosure rate of one new foreclosure filing for every 1,030 U.S. households, the third highest monthly foreclosure rate reported this year.

The highest foreclosure rates were recorded in Michigan, Colorado, and Nevada. Other states reporting foreclosure rates among the nation’s 10 highest were Florida, Georgia, Indiana, Illinois, Texas, Ohio and Utah.

California, meanwhile, surpassed Texas and Florida to become the state with most new foreclosure filings. The state documented 14,806 properties entering some stage of foreclosure, nearly three times the number reported in September 2005 and a foreclosure rate of one new foreclosure filing for every 825 households — 1.3 times the national average. The state’s foreclosure activity has risen more than 40 percent over the last two months.

— REALTOR® Magazine Online


Posted by:
Michael Clarkson
Broker Associate
RE/MAX Alliance - Westminster

303.403.2641
http://www.MileHighHomeHunter.com
http://www.MileHighForeclosure.com