July 2010 U.S. Foreclosure Heat Map

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Here's a heat map showing foreclosure activity in July nationwide, broken down by county. In July we saw a continued pattern of declining defaults even while bank repossessions (REOs) continued to climb from a year ago. Read full July report.

Posted: Wed, September 01 2010 9:29 AM by darenb

Filed under: Foreclosure Trends, foreclosure rates, foreclosure hot spots

Comments

Norman Sutton said:

Where is the US property market heading?

Well, I've just been running some numbers and this is what I've found.

- 2.5 million US homes have been foreclosed in the last 3 years

- 3 million US homes predicted to be foreclosed in the next 4 years

That means 5.5 million homes over 7 years, which is 785,000 homes per year or 65,500 homes per month.

Now if you multiply this by the average house price of $182,00, that totals a staggering $11,921,000,000 of foreclosures per month.

If say 25% of these end up becoming REO's, that represents a $2,980,000,000 per month market.

If you would like to know more about how to be involved in this market, email me at normansutton1249@gmail.com

# September 30, 2010 2:13 PM

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