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Foreclosure Filings Down 3% from 2011

IRVINE, CA-National foreclosure filings decrease year over year, although foreclosure activity increases in 25 states, says RealtyTrac.

By Carrie Rossenfeld | Updated on January 29, 2013

IRVINE, CA-While the number of foreclosure filings decreased 3% nationally in 2012 from 2011, foreclosure activity increased in 25 states over the course of last year, according to locally based RealtyTrac‘s Year-End 2012 Foreclosure Market Report. Twenty of those states primarily use the longer judicial foreclosure process, including New Jersey, Florida, Connecticut, Indiana, Illinois and New York. However, foreclosure activity in 2012 decreased from 2011 in 25 states—19 of which primarily use the more streamlined non-judicial foreclosure process, including Nevada, Utah, Oregon, Arizona, California and Michigan.

Florida posted the nation’s highest state foreclosure rate in 2012, with 3.11% of housing units receiving a foreclosure filing during the year. Other states with top five foreclosure rates were Nevada, Arizona, Georgia and Illinois.

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