Foreclosures Up for Much of the Nation
Looking back at January, we can see that the rate of foreclosures was down on a month-over-month basis. Unfortunately, completed foreclosures showed a significant upturn on an annual basis.
According to RealtyTrac, there was a total of 95,186 filings in January. This includes foreclosure starts, notices of default, and completed foreclosures. This number represents the lowest figure since July of 2006, as well as an 8% decrease from December and an 11% decrease from January of 2015. Further, completed foreclosures alone were down by 26% from December, but up 32% from January of 2015.
Some states showed worse figures than the national average. Twelve states and the District of Columbia experienced an increase in foreclosure starts, with Oklahoma leading the nation with a whopping 289% increase. Meanwhile, completed foreclosures were up in 34 states and the District of Columbia; New York saw the worst increase with 263%, followed by Texas, New Jersey, Georgia, and Maryland.
