NV, AZ and CA See Highest Foreclosure Rates
For the first quarter of 2009, Nevada, Arizona and California continued to document the nationís highest state foreclosure rates, according to RealtyTrac. Filings were reported on 41,296 Nevada properties du up 19% from the fourth quarter of 2008 and nearly 111% from a year ago. Bank repossessions in the state were down 3% from the fourth quarter, but defaults increased 27% and auction sale notices increased 35%.
Arizona posted the nationís second highest state foreclosure rate for the first quarter, and California posted the third highest rate. Other states among the top 10 in the first quarter were Florida, Illinois, Michigan, Georgia, Idaho, Utah and Oregon.