In 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)
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A fall is good… but if we see the list, Arizona still has a large difference from Illinois, for example!
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.
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
I’m sure it had an impact, but I also assume that impact is nationwide.
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