The foreclosure data tracking company Realty Trac reports the national foreclosure rate declined 8% in November compared to October, but is 18% higher than in November 2008.
According to the report, 1 in every 417 homes in the US received a foreclosure filing in November. It was the 4th consecutive month of declines. Hard-hit Nevada, Florida, and California continued to show the highest foreclosure rates, but each also showed that defaults were slowing.
In Nevada, 1 in every 119 homes received foreclosure filings, a 33% decrease from the month before. In Florida, 1 in every 165 homes received foreclosure filings and in California the rate was 1 in every 180 homes. In raw numbers, California, Florida, Illinoise and Michigan accounted for 50% of all filings in the country.
Article taken from The Real Estate Professional January/February 2010 Issue