1 Million Foreclosures and Counting
Foreclosures filings for the year surpassed the 1 million mark in October, when 115,568 foreclosure documents were recorded nationwide, according to the
RealtyTrac U.S. Foreclosure Market Report, released today.
The report shows a foreclosure rate of one new foreclosure filing for every 1,001 U.S. households — up 3 percent from September and 42 percent from October 2005. The year-to-date foreclosure total stands at 1,029,132, up from 732,608 at the same time last year.
Colorado and Nevada once again posted the nation’s two highest foreclosure rates thanks to increasing foreclosures in both of those states. Georgia, Michigan, Illinois, Florida, Ohio, Tennessee, New Jersey and Utah also documented foreclosure rates among the nation’s 10 highest in October.
California recorded more than 16,000 new foreclosure filings during the month, the most of any state for the second month in a row and more than three times the number reported in October 2005. The state’s foreclosure rate was 12th highest in the nation.
View full report.