By: Dennis Norman
According to a report issued by RealtyTrac(R), there were 1,905,723 foreclosure filings (default notices, scheduled auctions and bank repossessions) on 1,528,364 U.S. properties in the first six months of 2009, a 9% increase in total properties from the previous six months and a 15% increase in total properties from the first six months of 2008. This works out to 1.19% of all U.S. homes (1 in 84) receiving at least one foreclosure filing in the first half of this year.
For the month of June there were 336,173 properties with foreclosure filings, the fourth straight month that the total exceeded 300,000 which helped boost the 2nd quarter to the highest quarterly total since RealtyTrac(R)began issuing its report in the first quarter of 2005.
Nevada, Arizona and Florida share the dubious honor of posting the highest foreclosure rates in the report. More than 6% of Nevada housing units (1 in 16) received at least one foreclosure filing in the first half of 2009, giving it the nation’s highest foreclosure rate during the period. Arizona registered the nation’s second-highest rate with 3.37% of its housing units (1 in 30) receiving at least one foreclosure filing and Florida came in 3rd at 3.08%.
The state with the lowest foreclosure rate was Vermont with 1 in 28,312 housing units receiving a foreclosure notice, next was North Dakota with 1 in 9,705 housing units receiving a foreclosure notice and the 3rd lowest was West Virginia with 1 in 7,743 housing units receiving foreclosure notices.
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