LANSING – Foreclosures in Michigan during 2012 fell by 23.4 percent from 2011, a national tracking firm said. But the state still had more than 76,000 foreclosures during the year and an overall foreclosure rate of 1.69 percent, meaning Michigan was still among the 10 states with the highest rate of foreclosures.
According to RealtyTrac, a California-based online foreclosure firm, Michigan’s number of foreclosures was down by 43.4 percent from 2010.
Florida had the highest overall foreclosure rate. The more than 279,000 homes foreclosed in that state meant 3.11 percent of its properties were taken. Florida’s foreclosure rate increased by 53.45 percent from 2011.
Following Florida was Nevada, where 31,658 properties were foreclosed on, meaning 2.7 percent of the properties were taken. Still, foreclosures declined by almost 57 percent from 2011.
Arizona was in third place, as the 76,487 properties meant that 2.69 percent of its properties returned to the lender. It was followed by Georgia, where 105,610 properties meant that 2.58 percent of its properties were changed. Then came Illinois, where 2.58 percent of its properties were lost, 136,603, in 2012. California saw 319,162 properties foreclosed, or 2.33 percent.
Ohio was seventh overall, as 89,584, or 1.75 percent of its properties foreclosed on in 2012. Michigan was eighth. Its 76,711 properties foreclosed represented 1.69 percent of properties lost.
In ninth place was South Carolina, where 35,583, or 1.66 percent of its properties, were foreclosed on in 2012. Finally, in 10th place, was Colorado where during 2012 1.64 percent of its properties, 36,246, were foreclosed on.
North Dakota had the lowest overall rate of foreclosures, with just 119 properties, or 0.04 percent of its total, taken. However, that still represented a 29.35 percent increase over 2011.
This story was provided by Gongwer News Service. To subscribe, click on Gongwer.Com
