CNN is reporting that foreclosures spiked in the month of August. ” In August, 115,292 properties entered into foreclosure, according to RealtyTrac, an online marketplace for foreclosure sales. That was 24 percent above the level in July and 53 percent higher than a year earlier.”
Florida led all states with 16,533 properties in some stage of foreclosure, 50% higher then July’s number. In California, that number reached 12,506, a 160% increase over last year.
According to the Nashville Business Journal , Tennessee had 2,377 foreclosures in August, a 60% increase from last year (1 in 1,032 homes).
The Cincinnati Business Courier listed Ohio with 7,468 properties (1 in 640 households), a 36.1% increase from July.
For the fifth straight month, Colorado led all states with 1 foreclosure for every 301 homes.
Nationally, August saw a 24% increase in foreclosures from July and a 53% increase from last year. The list named Greely, Colorado; Baton Rouge, Louisiana; Fort Lauderdale, Florida; Miami and Denver as the top five metro areas in terms of foreclosures.
Amazingly, Vermont with only 2 foreclosures in the entire state, leads the country with the least number of foreclosures.