Home foreclosures were up for 2009. 2.21% of all US housing units received foreclosure notice. This was up from 1.84% in 2008. The pre-crisis number was 0.58% in 2006. According to the CEO of Realty Trac, "As bad as the 2009 numbers are, they probably would have been worse if not for legislative and industry-related delays in processing deliquent loans."
Nevada led the way in number of foreclosures as a percentage of total homes, but showed signs of improvement. California, Florida, Arizona, and Illinois accounted for more than half of the 2009 total foreclosings. Vermont, North Dakota, West Virginia, and South Dakota had the lowest foreclosure rates as a percentage of housing units. Nine states had lower numbers of foreclosures in 2009 than 2008. Most of these states were in the midwest and east coast.
Overall foreclosures nationally are expected to continue at a high rate in 2010 and beyond.
For more information:
http://www.marketwatch.com/story/foreclosures-top-record-in-2009-no-end-in-sight-2010-01-14?dist=beforebell
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