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NOV
16
Foreclosures Decline for Third Month
By John Askins



Foreclosures were filed on 332,292 U.S. properties in October, a decrease of 3 percent from September, but still up nearly 19 percent from October 2008, according to foreclosure sales site RealtyTrac.

October marks the third-straight month of declines in foreclosures, which many see as an encouraging sign that the worst of the foreclosures are behind us. Still, some skeptics predict another wave. “The real issue is we don’t know what inventory banks are holding that they have yet to put on the market,” said Stephen Miller, chair of the economics department at the University of Nevada at Las Vegas, during an interview with Bloomberg News.

States with the highest foreclosure rates are Nevada, California, Florida, Arizona, Idaho, Illinois, Michigan, Georgia, Maryland and Utah.

Four states accounted for 52 percent of the nation’s total foreclosure activity in October: California, Florida, Illinois, and Michigan. The rest of the states in the top 10 for actual numbers of foreclosures were Nevada, Arizona, Georgia, Texas, Ohio, and New Jersey.

Source: RealtyTrac
Disclaimer: The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the Houston Association of REALTORS®

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John Askins

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Welcome to Royce Realty, your source for Houston and Texas real estate. If you own property that you are thinking of selling I would be happy to provide you with a FREE Home Evaluation. If you are buyer, in this competitive real estate market, timing is everything. Many good homes are sold before...
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