Foreclosures Continue to Decline

RealtyTrac reports that foreclosure activity across the US in December and the full year 2011 dropped sharply. Foreclosure filings in 2011 totaled 2.7 million, down 34% from 2010 and 33% below 2009 and 19% below 2008.  Overall 1.45% of US homes experienced a foreclosure filing, about one in every 69 houses. Comparable percentages for earlier years were 2.23% in 2010, 2.21 in 2009 and 1.84% in 2008.   December foreclosure activity hit a 49 month low, down 9% from November and 20% from December 2010.

Among the states, those with the highest foreclosure rates were Nevada, Arizona and California.  In Nevada, 16% of the housing units had at least one filing in 2011.  While this is down 31% from 2010, this is still the fifth year in a row that Nevada has led all other states with foreclosure activity. Arizona was second with 4.14% of housing units experiencing at least one filing and California was third at 3.19%.  Other states among the top ten for foreclosure activity were Michigan, Florida, Illinois, Colorado and Idaho.

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One Comment

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