IRVINE, CA – California, Florida and Arizona make up 60 percent of the country's foreclosure's, according to the online publication RealtyTrac.
Nationwide, there were 315,716 default notices, scheduled auctions and bank repossessions in January, a decrease of almost 10 percent from the previous month, but still 15 percent above the level reported in January 2009. The report also showed one in every 409 homes received a foreclosure filing in January.
"January foreclosure numbers are exhibiting a pattern very similar to a year ago: a double-digit percentage jump in December foreclosure activity followed by a 10 percent drop in January," said James J. Saccacio, chief executive officer of RealtyTrac "If history repeats itself we will see a surge in the numbers over the next few months as lenders foreclose on delinquent loans where neither the existing loan modification programs or the new short sale and deed-in-lieu of foreclosure alternatives works."
Despite a year-over-year decrease in foreclosure activity of nearly 18 percent, Nevada's foreclosure rate remained highest among the states for the 37th straight month. One in every 95 Nevada housing units received a foreclosure filing during the month — more than four times the national average.
Two Florida cities rounded out the top 10: Cape Coral-Fort Myers at No. 9 (one in 121); and Orlando-Kissimmee at No. 10 (one in 143).