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Foreclosure Activity Decreases 10% in January

In its January 2009 U.S. Foreclosure Market Report, RealyTrac showed foreclosure filings were reported on 274,399 properties, a 10% decrease from December but still up 18% from January 2008.

Nevada foreclosure activity in January decreased 4% from December, but the state continued to register the nationís No. 1 foreclosure rate. Filings were reported on 14,444 properties in January, up 137% from January 2008. California posted the second highest rate with one in every 173 housing units receiving a filing, and Arizona was third with one in every 182 housing units. Despite a 20% month-over-month drop in activity, Florida posted the fourth highest rate, with one in every 214 housing units.