For those not wanting to click through:
10. Montana (up 65.22%)
9. Washington (up 74.6%)
8. Alabama (up 77.64%)
7. Nebraska (up 88.24%)
6. Maryland (up 99.8%)
5. New Jersey (up 116.39%)
4. Idaho (up 159.78%)
3. Ohio (up 197.48%)
2. Mississippi (up 203.64%)
1. Vermont (up 280%)
What is the cause? Any ideas?
One thing you will notice that these are not the LARGEST states, like CA, TX, FL, NY, PA. IL, AZ or NV.
And they are not the states (sand states) that had the MOST foreclosures as a result of 2008 like CA, AZ, FL and NV.
Some of the states are small states as to population so smaller number increases produce higher percentages.
Dang those are some pretty large percentages. I guess we have to peel back the layers on this to see what is up. Have you seen the historical numbers on these states? Are these the top 10 regulars not counting GFC?
Originally posted by @Matt R. :
Dang those are some pretty large percentages. I guess we have to peel back the layers on this to see what is up. . . .
The article said Vermont was up only 12 foreclosures but the population is so small, that made a big swing in their numbers. Montana has one of the lowest foreclosure rates in the country, so again not a lot of foreclosures to make it look like a big change. MD on the other hand is the third highest foreclosure rate in the country.
So many properties here are in a "Pre-Foreclosure" status, not being paid on and not being foreclosed on, it's INSANE! Some for YEARS!! I'm watching closely as the banks begin to release these back into the market....I'm sure it will have a big impact on pricing, inventory and statistics (of course) like these!
This is just more sensationalistic nonsense from RealtyTrac. I recently learned that RealtyTrac counts foreclosures when they are entered into THEIR database, not when the foreclosure actually took place. This makes their month to month comparisons nearly meaningless but makes for good headlines.
With the economy humming along nicely, I expect foreclosures to remain at a stable LOW level for the forseeable future.
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