Foreclosure StatisticsRueters reported that with just 5 states attributing to half of all the foreclosures in the country this year, 2012 doesn’t look like it will improve on that. The biggest vacation states of Arizona, Florida, Nevada and California also had the highest running home foreclosure rates in the last decade. 10% of housing units of Nevada received at least one foreclosure which is astounding at four times the National average for bank foreclosures of properties. Just 5 years ago only 100,000 houses were taken over in bank foreclosures on the property.
Reports of an all time high of a quarter million were recorded in 2010-2011 and forecasts say that will start right back up in 2012 as the quarters turn with a final tally of banks seizing more than a recorded million homes through foreclosures. If you throw in auctions and repossessions, the total soars to over 2.4 million for 2011 alone, and that total is below the 3 million estimates due to the fourth quarter drop.
Who knows what states will bring in the highest records for January 2012 of bank closures with current trends exploding in the home foreclosure market? Trendsetting may not be all that glamorous after all.
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