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Foreclosure rates across the US. Where does your state rank?

 

Foreclosures were up 47% in March from a year ago, and up 7% from last month alone, according to Realty Trac,  While foreclosure rates leveled off last year in the second and third quarters, many economists and industry insiders are predicting foreclosures to surge again in coming months.

Economist David Shulman of the UCLA Anderson Forecast says he thinks foreclosures will continue to rise for the remainder of the year as more adjustable-rate mortgages reset, including more so-called "no-doc" loans, which don't require verification of borrowers' income.

Rick Sharga, vice president of RealtyTrac, expects a 35% to 40% jump in foreclosure filings this year over last year.

Some areas are suffering much more than others. Five states — California, Florida, Texas, Michigan and Ohio — together accounted for 50% of the nation's total foreclosures in March, according to RealtyTrac. But it was Nevada, Colorado and California that had the top three foreclosure rates for March.

Among cities, California's Stockton was No. 1, with one foreclosure in every 128 households — a 137% spike from February. Las Vegas, with 4,307 filings, had the nation's second-highest metro foreclosure rate in March, with one foreclosure filing for every 139 households — more than five times the national average. Other metro areas with foreclosure rates among the nation's 10 highest included Greeley, Colo. (No. 4); Detroit (No. 8) and Denver (No. 9).

Ranking foreclosures

State

Total foreclosures

1 foreclosure per # of households

% change from Feb 2007

% change from March 2006

Nevada

4,738

183

29.42

219.92

Colorado

6,267

292

18.02

16.23

California

31,434

389

35.49

183.88

Georgia

6,769

457

-7.2

-11.59

Arizona

4,476

489

43.65

118.45

Michigan

8,610

490

-7.4

11.43

Florida

14,303

511

-25.29

54.08

Ohio

8,222

582

9.95

74.23

Indiana

4,332

583

26

-12.18

Illinois

7,819

625

18.08

70.27

Texas

12,755

631

2.98

6.73

New Jersey

4,780

693

-4.53

28.91

Massachusetts

3,497

750

39.99

717.06*

Tennessee

3,178

772

-17.15

-6.53

Connecticut

1,517

913

2.99

83.21

Missouri

2,494

977

5.77

60.59

North Carolina

3,241

1,086

-3.71

56.34

Utah

636

1,208

-25

-55.74

Oklahoma

1,138

1,313

-18.25

-16.69

Washington

1,736

1,378

7.16

-5.86

Rhode Island

316

1,392

128.99

15700.00*

Idaho

355

1,481

21.16

66.67

Pennsylvania

2,921

1,797

47.82

-20.69

Oregon

747

1,949

3.03

28.13

Nebraska

357

2,013

21.43

144.52

New York

3,711

2,069

-18.48

-7.11

Alaska

98

2,094

20.99

-3.92

Iowa

580

2,125

-2.36

144.73*

Maryland

965

2,220

160.11

326.99

Arkansas

505

2,323

-61.86

-60.14

New Mexico

326

2,394

-32.08

27.84

Delaware

143

2,399

113.43

472.00*

Alabama

806

2,436

79.51

357.95

Kentucky

700

2,501

11.46

102.31

Kansas

447

2,523

5.67

126.90*

Minnesota

808

2,559

-13.02

44.54

Virginia

1,054

2,738

46.8

293.28

Wisconsin

827

2,785

-15.09

67.75

Louisiana

579

3,252

-24.51

382.50*

Montana

117

3,522

17

-16.43

New Hampshire

115

4,757

219.44

2200.00*

South Carolina

340

5,155

-1.16

-55.67

Hawaii

65

7,085

10.17

44.44

West Virginia

95

8,891

206.45

26.67

Maine

65

10,029

622.22

441.67

South Dakota

32

10,100

45.45

33.33

North Dakota

24

12,070

33.33

14.29

Mississippi

94

13,498

-34.72

28.77

Wyoming

10

22,385

-66.67

-67.74

District of Columbia

5

54,969

-61.54

Vermont

1

294,382

0

-80

U.S.

149,150

775

6.6

46.81

*Actual increase may not be as high due to expanded data coverage.

This is not original material. Content from www.msn.com

 

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