RealtyTrac, arguably the leading online marketplace for foreclosure properties, released its January 2009 U.S. Foreclosure Market Report. The Report provides a count of the total number of properties with at least one foreclosure filing (default, auction, REO) reported during the month. For the first time Idaho is among the top 10 states with the most foreclosures. With foreclosure filings being recorded for one in every 417 homes, Idaho is hot on the trail of economically depressed foreclosure hot-spots such as Michigan (1 in 397) and Illinois (1 in 363), where $5,000 price tags for homes have made headlines in recent months.
# of Foreclosure Filings Per State (1/every x HH rate):
1. Nevada (1 in every 76)
2. California ( 1 in every 173)
3. Arizona (1 in every 182)
4. Florida (1 in every 214)
5. Oregon (1 in every 357)
6. Illinois (1 in every 363)
7.Michigan (1 in every 397)
8. Georgia (1 in every 400)
9. Idaho (1 in every 417)
Here’s what the situation looks like by county (click for details):
Canyon County lead the state with 1 in every 192 homes, Teton county 2nd with 1 in every 218 and Ada County trailing close behind in 3rd with 1 in every 221.Although the outlook is pretty may seem pretty bleak the NOD filings were down 5% for Idaho and 10% overall for the nation. Hopefully with the roll out of the new stimulus packet we can see some bottoming this year in the housing price drops and begin to see an upward swing by the end of 2009.
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