For the fifth consecutive year, Nevada continues to have the highest foreclosure rate in the country, despite a 31 percent drop in the state’s foreclosure activity from 2010 to 2011, RealtyTrac reported.
Several states continue to see a large amount of foreclosures, which are putting downward pressure on overall home prices.
.
The states with the highest foreclosure rates for 2011 are:
- Nevada: 6% (1 in 16 housing units received at least one foreclosure filing in 2011)
- Arizona: 4.14% (or 1 in 24)
- California: 3.19% (or 1 in 31)
- Georgia: 2.71% (or 1 in 37)
- Utah: 2.32% (or 1 in 43)
- Michigan: 2.21%
- Florida: 2.06%
- Illinois: 1.95%
- Colorado: 1.78%
- Idaho: 1.77%
.
Nationwide, 1 in 69 housing units or 1.45 percent of home owners received at least one foreclosure filing during 2011, which is down from 2.23 percent in 2010 according to RealtyTrac.
.
SOURCE: RealtyTrac
