Thursday, January 15, 2009

What a mess...

Foreclosures up 208 percent in Arizona, 81 percent nationwide in 2008

The report also shows 1.84 percent of all U.S. housing units (one in 54) received at least one foreclosure filing during the year, up from 1.03 percent in 2007.

Foreclosure filings were reported on more than 303,000 U.S. properties in December 2008, up 17 percent from the previous month and nearly 41 percent from December 2007. Foreclosure activity for the fourth quarter was down nearly 4 percent from the third quarter, but up nearly 40 percent from the fourth quarter of 2007.

Arizona’s 2008 total of nearly 117,000 properties receiving foreclosure filings was third-highest among the states, trailing only Nevada and Florida. Foreclosure activity in Arizona increased by 203 percent from 2007 and 655 percent from 2006.

Rounding out the top 10 foreclosure rates for 2008 were, in order, California, Colorado, Michigan, Ohio, Georgia, Illinois and New Jersey.

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