Thursday, June 11, 2009

1 in every 64 houses in Nevada receiving Foreclosure notice on this month

May foreclosure activity was the third-highest month on record, and marked the third straight month where the total number of properties with foreclosure filings exceeded 300,000 — a first in the history of our report,” said James J. Saccacio, chief executive officer of RealtyTrac. “While defaults and scheduled foreclosure auctions were both down from the previous month, bank repossessions, or REOs, were up 2 percent thanks largely to substantial increases in several states, including Michigan, Arizona, Washington, Nevada, Oregon and New York. We expect REO activity to spike in the coming months as foreclosure delays and moratoria implemented by various state laws come to an end.

National Average - 1:398
Nevada - 1:64
California - 1:144 - 92,249 properties
Florida - 1:148
Arizona - 1:158

Michigan, Georgia, Colorado, Idaho and Ohio round off the top ten accounting for 77% of all combined foreclosure activity nationwide.
Copyright Jonathan Rose 2009 - Creative Commons License

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