The Foreclosure Report

Hot Housing Markets Now Lead In Defaults

Some foreclosure news. "The March 2006 U.S. Foreclosure Market Report shows 101,597 properties nationwide entered some stage of foreclosure in March, a 13 percent decrease from the previous month but a 63 percent increase from March 2005. Colorado’s foreclosure rate leapfrogged to highest among the states thanks to a 31 percent increase in new foreclosures from the previous month."

"The state reported 5,392 properties entering some stage of foreclosure in March, a foreclosure rate of one new foreclosure for every 339 households, more than three times the national average."

"With a total of 4,933 properties entering some stage of foreclosure in March, Indiana’s foreclosure rate, one new foreclosure for every 512 households, ranked among the nation’s five highest for the third month in a row."

"Utah foreclosures increased 21 percent from the previous month and replaced Ohio among the states with the five highest foreclosure rates. Utah reported a total of 1,437 properties entering some stage of foreclosure in March, a foreclosure rate of one new foreclosure for every 535 households and a 32 percent year-over-year increase."

"Texas documented the most new foreclosures of any state for the fourth month in a row even though foreclosures there decreased for the second consecutive month. The state reported a total of 11,951 properties entering some stage of foreclosure, a foreclosure rate of one new foreclosure for every 674 households, 1.7 times the national average."

"California reported 11,073 properties entering some stage of foreclosure in March, the second most of any state, and the state’s foreclosure rate registered slightly above the national average thanks to a 22 percent increase from the previous month."

"Florida foreclosures decreased 7 percent from the previous month and 12 percent from March 2005, but the state still reported 9,283 properties entering some stage of foreclosure in March, the third most of any state and a foreclosure rate 1.5 times the national average."

posted by Ben Jones @ 9:58 AM