Top Five Foreclosure States Revealed
For investors who want to track trends in real estate numbers as they emerge, the RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported monthly; it is then broken out by filing type at the state and national levels. Below are some fast facts on state foreclosure numbers:
Five Highest State Foreclosure Rates
These figures chart the ups and downs of foreclosure rates reported in states across the nation.
- Nevada: One in every 139 Nevada households received a foreclosure filing during March, 3.9 times the national average and the highest state foreclosure rate for five consecutive quarters. Foreclosure filings were reported on a total of 7,659 properties during March, up 24 percent from February and up nearly 62 percent from March 2007.
- California: Foreclosure rates in California came in second place among the states for the fourth month in a row. One in every 204 California households received a foreclosure filing in March — at a rate nearly three times the national average.
- Florida: This state takes third place in the foreclosure rate rankings. There, one in every 282 Florida households received a foreclosure filing in March, establishing a foreclosure rate that’s nearly 2 times the national average.
- Arizona: Despite a nearly 5 percent monthly drop in foreclosure activity, Arizona posted the fourth highest state foreclosure rate for the third consecutive month, with one in every 283 households receiving a foreclosure filing in March. Overall foreclosure filings were reported on 9,199 properties during March, up nearly 106 percent from the same month in 2007.
- Colorado: Colorado foreclosure activity declined 8 percent from February, and 1 percent from March 2007. Still, the state’s foreclosure rate continues to rank fifth-highest among the states. Foreclosure filings were reported on 6,180 Colorado properties in March — that’s one foreclosure for every 339 households.
Other states with foreclosure rates making the cut for the top 10 foreclosure rates include Georgia, Ohio, Michigan, Massachusetts and Maryland.
Top Five States for Total Foreclosures to Date
The states listed below have the highest rate of total foreclosures reported in the U.S. Here, there are few surprises, except for the lone star’s state’s slow-down in overall foreclosures reported.
- California: Foreclosure filings were reported on 64,711 California properties in March, the most of any state for five consecutive quarters. The state’s foreclosure activity rose nearly 21 percent from February and nearly 106 percent from March 2007.
- Florida: Florida posted the nation’s second highest foreclosure total, amid 30,254 reported filings in March. Although the state’s foreclosure activity dropped nearly 7 percent from February’s reported figures, the overall rate remained up by 112 percent over March 2007.
- Ohio : Ohio’s total of 11,273 foreclosures give the state the third highest foreclosure rate in the U.S. One in every 448 Ohio households received a foreclosure filing in March — earning the state a seventh place spot in state total foreclosures rankings.
- Georgia: Georgia’s total of 11,047 foreclosures is the nation’s fourth-highest overall foreclosure rate. One in every 351 Georgia households received a foreclosure filing in March — ranking its foreclosure rate No. 6 in the United States.
- Texas: In Texas, foreclosure filings were reported on 10,700 properties in March, marking a 13 percent decrease from the previous month and a 16 percent drop from foreclosures reported for the same period in 2007. Last month, a decline in the state’s forclosures dropped Texas to the fifth place spot for total foreclosures among the states.
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