Much to no one's surprise, sales of foreclosures in the first quarter of 2009 were up nationwide. RealtyTrac® reports that "...foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on 803,489 properties in the first quarter, a 9 percent increase from the previous quarter and an increase of nearly 24 percent from Q1 2008. One in every 159 U.S. housing units received a foreclosure filing during the quarter."
Nevada led the way in the first quarter "...with one in every 27 housing units receiving a foreclosure filing — more than five times the national average." Closer to (our) home, California was not far behind with "...the nation’s third highest state foreclosure rate, with one in every 58 housing units receiving a foreclosure filing."
You might have read one of our prior blog posts from March 5 - Two Real Estate Markets.
To read more: RealtyTrac press release