NCRE Investors Group Blog

With the current economy and market trends, you’d think that foreclosures occur in almost all of the states in the US. While this is a fact, much of the foreclosures are condensed in several states. There are nine states that have foreclosure rates that are above the national average. Four states however, have huge foreclosure rates, these are: Nevada, California, Arizona and Florida. The states that have foreclosure rates that are around the national average of 11 per 5,000 housing units include Illinois, Oregon, Georgia, Michigan, Idaho, Ohio, Colorado and Utah. The states with the lowest foreclosure rates on the other hand are comprised of the following; Louisiana, Mississippi, Montana, Nebraska, New Mexico, North Dakota, South Dakota and West Virginia. Just to give you a picture of how the top four states faired, Nevada had 14,444 foreclosures; California had 76,761; Arizona 14,674 and Florida 40,770 (these are based on foreclosure statistics for January 2009 http://www.realtytrac.com/ContentManagement/pressrelease.aspx?ChannelID=9&ItemID=5822&accnt=64847). You can go to this link to view the geographical statistics - http://www.stateline.org/live/issues/Economy+%26+Business.