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Foreclosures in 2011: RealtyTrac Reports Full Year Data
Nationally in 2011 1.9 million homes were in some stage of the foreclosure process representing 1.45% of the homes in the US — the lowest percentage in four years. The good news is that this is down by about a third from 2010. In 2010 2.23% of homes were in foreclosure compared to 2.21% in 2009 and 1.84% in 2008. The full report from RealtyTrac is on the web. State by state data show a large range of results. Ranked by the percentage of homes in foreclosure the top few states should be no surprise to followers of the S&P/Case-Shiller Home Price Indices — numbers one, two and three are Nevada, Arizona and California; Michigan is sixth and Florida is seventh. The state with the smallest percentage of homes in foreclosure is North Dakota at 0.03% — a mere 92 homes. Among states that include cities covered by S&P/Case-Shiller, the smallest percentage of homes in foreclosure is found in New York at 0.33%.
California, being the largest state by population also had the most homes in foreclosure with 428 thousand. Close behind were some less populous states where the housing bust is a major issue. These include Florida with 182 thousand homes, Arizona with 114 thousand and Georgia with 110 thousand homes in foreclosure. Foreclosure rates are declined nationally from 2010 to 2011, and only seven states showed increasing foreclosures.
Top 10 States With Foreclosures