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Rise in Foreclosure Filings Seen11-13-08 | News

Rise in Foreclosure Filings Seen

One in every 452 U.S. housing units received a foreclosure filing in October, accounting for a five percent rise in filings over the previous month. Nevada, Arizona and Florida were the top three states with the highest foreclosure filings in October.

After a brief easing on foreclosure activity in September, foreclosure filings in October increased, according to RealtyTrac.

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Nevada posted the nation?EUR??,,????'?????<

With one in every 149 housing units receiving a foreclosure filing in October, Arizona registered the second highest state foreclosure rate. Foreclosure filings were reported on 17,507 Arizona properties for the month, an increase of nearly 35 percent from the previous month and up 176 percent from October 2007.

One in every 157 Florida housing units received a foreclosure filing in October, the nation?EUR??,,????'?????<

Other states with foreclosure rates ranking among the top 10 were California, Colorado, Georgia, Michigan, New Jersey, Illinois and Ohio.

California foreclosure activity in October decreased 18 percent from the previous month, but the state still posted the highest number of properties with foreclosure filings for the month?EUR??,,????'?????<

Florida, Arizona and Nevada posted the second, third and fourth highest number of properties with foreclosure filings respectively in October.

Source: RealtyTrac