Network News

X My Profile
View More Activity
2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Report: Foreclosures Up 9 Percent In First Quarter

The U.S. foreclosure rate soared 9 percent in the first three months of this year, totaling 803,489 properties, compared to the last three months of 2008, according to RealtyTrac numbers out today.

The number marks a 24 percent increase compared to the first quarter of 2008.

Something to know about these numbers: RealtyTrac is a company that helps people buy foreclosed properties. As such, they have a stake in the game. At the same time, they have access to data. So, take the numbers for what you will, knowing these facts.

According to RealtyTrac, overbuilt Nevada, Arizona and California were 1-2-3 in foreclosures in the first quarter of this year.

In Nevada, one in every 27 houses received a foreclosure number -- five times the national average. In Arizona, the number is one in 54; in California, one in every 58.

Five states -- the three listed above, plus Florida and Illinois -- account for 60 percent of the nation's foreclosures, the company said.

Locally, Virginia came in at No. 10 for most foreclosures in the first quarter.

Vermont had the fewest foreclosures in the first quarter, followed by South Dakota, Nebraska, Montana and West Virginia.

Here is the entire foreclosure report.

-- Frank Ahrens
Sign up to get The Ticker on Twitter

By Frank Ahrens  |  April 16, 2009; 1:56 PM ET
Categories:  The Ticker  | Tags: foreclosure  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz   Previous: Markets Flat at Opening
Next: AIG Sells Car Insurance Unit For $1.9B

No comments have been posted to this entry.

The comments to this entry are closed.

 
 
RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company