Surprise: Foreclosures remain at record levels in April
Foreclosure filings jumped 32 percent in April 2009 compared to April 2008, according to RealtyTrac’s April 2009 U.S. Foreclosure Market Report. The report also shows that one in every 374 U.S. housing units received a foreclosure filing in April, the highest monthly foreclosure rate ever posted since RealtyTrac began issuing its report in January 2005.
Despite an 18 percent decrease in foreclosure activity from the previous month, Nevada continued to post the nation’s highest state foreclosure rate in April, with one in every 68 housing units receiving a foreclosure filing-more than five times the national average. A 37 percent month-over-month increase in foreclosure activity boosted Florida’s foreclosure rate to second highest among the states in April. One in every 135 Florida housing units received a foreclosure filing during the month-more than 2.7 times the national average.
Foreclosure activity in California decreased 10 percent from the previous month, but the state still posted the nation’s third highest state foreclosure rate in April, with one in every 138 housing units receiving a foreclosure filing during the month. Other states with foreclosure rates ranking among the nation’s 10 highest were Arizona, Utah, Georgia, Illinois, Colorado and Ohio-although the foreclosure rates in Illinois, Colorado and Ohio were below the national average.
Source: Real Trends