States with highest foreclosure rates shift

Foreclosure Today
Posted 02/17/2012

There has been a shift in states with the highest foreclosure rates. About a month ago, Nevada took the number one spot followed by Arizona, California, Georgia and Utah according to RealtyTrac. Now that the settlement is in place there are hopes of improvement among the rates but in the meantime, the rate of those in mortgage default and in need of help with foreclosure continues to shift and increase. The following stats were reported in an article on Yahoo! Real Estate.

1. Florida—

2011 foreclosure rate: 11.9%
December, 2011 unemployment: 9.9% (6th highest)
Home price change (2006Q3-2011Q3): -49% (3rd largest decline)
Processing period: 135 days

2. New Jersey—

2011 foreclosure rate: 6.4%
December, 2011 unemployment: 9% (13th highest)
Home price change (2006Q3-2011Q3): -22.6% (14th largest decline)
Processing period: 270 days

3. Illinois—

2011 foreclosure rate: 5.4%
December, 2011 unemployment: 9.8% (7th highest)
Home price change (2006Q3-2011Q3): -29% (7th largest decline)
Processing period: 300 days

4. Nevada—

2011 foreclosure rate: 5.3%
December, 2011 unemployment: 12.6% (the highest)
Home price change (2006Q3-2011Q3): -59.3% (the largest decline)
Processing period: 116 days

5. New York—

2011 foreclosure rate: 4.6%
December, 2011 unemployment: 8% (23rd highest)
Home price change (2006Q3-2011Q3): -13.6% (23rd largest decline)
Processing period: 445 days

Related articles

• Foreclosure activity edges higher in January (usatoday.com)
• Foreclosures and a Small Sign of Housing Recovery (247wallst.com)
• Foreclosures climbed in January (money.cnn.com)
• Chicago Foreclosure Activity in 2011 Indicates Hot Foreclosure Market in 2012 (prweb.com)