Foreclosures decrease in January

According to statistics from Miami-based Bank Foreclosures Sale, an online provider of foreclosure listings and information, foreclosure rates in states across the nation were significantly lower in January. The number of foreclosures for sale fell to 315,710 in January, marking a 10 percent decline from December. These positive figures indicate possible recovery within the housing market, but experts say it is important to note that while this month’s total may be down from December, it is still 15 percent higher than it was in January 2009. Still, a decrease in foreclosure, even on a month-to-month basis, is a step in the right direction.

The statistics for regional markets also showed positive signs. The top-six states for foreclosure rates, including Nevada, Arizona, California, Florida, Texas, and Illinois, accounted for 60 percent of the national foreclosure property total, but Bank Foreclosure Sale said most of these states saw nowhere near the foreclosure growth rates experienced in the past.

Source: DSNEWS.com, Brittany Dunn, (03/02/2010)

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