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.
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