The States with the Highest Foreclosure Rates: June 2007
After hitting a 30-month high in May, U.S. foreclosure activity subsided in June. Is the worst over?
By Maya Roney
The good news: U.S. foreclosure filings dropped 7% in June. The bad news: foreclosure activity was still 87% higher than it was a year earlier. Nevada and California are once again at the top of the list of states with the highest foreclosure rates in the nation, with rates that are still nearly 300% higher than they were one year ago despite small month-over-month declines. But even the worst states for foreclosure got some relief last month. Eight of the top ten saw foreclosure rates decline from May; only Connecticut and Michigan experienced increases. Three states in the top ten—Indiana, Georgia, and Ohio—saw double-digit decreases in June foreclosure filings. Foreclosure rates fell in a total of 33 U.S. states during the month. RealtyTrac Chief Executive James Saccacio interpreted the data with caution. “The drop in activity was fairly broad,” he said. “Still, the foreclosure rates in most states remained substantially above last year’s levels.”
All data provided by RealtyTrac
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