Foreclosure activity down 6% from last month
Foreclosure filings were reported on 321,480 U.S. properties during May, a decrease of 6 percent from the previous month but an increase of nearly 18 percent from May 2008, according to RealtyTrac. The report also shows that one in every 398 U.S. housing units received a foreclosure filing in May. Nevada continued to document the nation’s highest foreclosure rate, with one in every 64 housing units receiving a foreclosure filing during the month-more than six times the national average. California posted the nation’s second highest state foreclosure rate despite a 4 percent decrease in foreclosure activity from the previous month.
Florida posted the third highest state foreclosure rate in May, with one in every 148 housing units receiving a foreclosure filing during the month. Rounding out the top five for foreclosures include Arizona and Utah.