Foreclosures Dip But Remain High

Daily Real Estate News  |  March 13, 2008

Foreclosures in February were down 4 percent from January, but the rate of foreclosures remain high year-over-year. The February rate was up 57 percent from February 2007.

“The year-over-year increase this February was significantly higher than the 19 percent year-over-year increase in February 2007, indicating we have still not reached the peak of foreclosure activity in this cycle,” says James J. Saccacio, CEO of RealtyTrac, which markets foreclosed properties.

The 10 states with the highest foreclosure rates were, in order, Nevada, California, Florida, Arizona, Colorado, Michigan, Ohio, Georgia, Indiana, and Tennessee.

The 10 states with the most foreclosures were, in order, California, Florida, Texas, Michigan, Ohio, Arizona, Illinois, Georgia, Colorado, and Nevada.

Source: RealtyTrac (03/13/2008)

Author: niaknowles

Real Estate Broker, Christian Yogi, Mother of three

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s