Arizona falls to #4 in the top ten foreclosure states

foreclosures arizonaIn July 2009, Arizona ranked as the third highest foreclosure state in the Nation.  However following a 10% month-to-month decline, Arizona fell to fourth place according to RealtyTrac.com, in its August 2009 Foreclosure Report.

#1 Nevada holds the dubious distinction of having the highest foreclosure rate in the Nation with one in 62 housing units receiving a foreclosure filing in August 2009 for a total of 17,902 properties (6.7 times the National average)

#2 Florida ~ one in every 140 housing units receiving a foreclosure filing (62,401 properties in August). While some of the top ten states are on the decline with foreclosure filings, Florida’s filing are on the rise.

#3 California ~ one in every 144 housing units receiving a foreclosure filing (92,326 properties in August) despite continuous declines in foreclosure filings.

#4 Arizona ~ one in every 150 housing units receiving a foreclosure filing (which is still more than twice the national average).

The 6 states rounding out the top ten based on number of foreclosure filings per housing unit are:

Michigan; Idaho; Utah; Colorado; Georgia; and Illinois

The top ten states based solely on number of foreclosures filed in August are:

#1 California (92,326)
#2 Florida (62,401)
#3 Michigan (19,359)
#4 Nevada (17,907)
#5 Arizona (17,802)
#6 Illinois (13,078
#7 Georgia (11,947)
#8 Ohio (11,368)
#9 Texas (11,261)
#10 New Jersey (8316)

Comments

  1. A fall is good… but if we see the list, Arizona still has a large difference from Illinois, for example!

  2. Absolutely correct, Tony. Arizona has been hit pretty hard by the foreclosure market due to the perfect storm of frenzy appreciation along with subprime & interest only loans.

  3. Does this fall has relationship with the 8000 credit? I mean, they say that this offer from government helped a little people to buy their house.. This provided a bigger movement in the market, reducing the foreclosures

  4. I’m sure it had an impact, but I also assume that impact is nationwide.

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