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The Nation’s Top Five States Highest in Foreclosure Filings

By on August 6, 2014 in Market Updates, Uncategorized

Currently in the U.S. there are well over 1 million properties that are in a stage of foreclosure, 1,094,710 to be exact.

As of the month in June, properties foreclosed was reported from RealtyTrac was 2% lower than the month of May and 16% lower than the the same time in 2013. The home sales were up by 13% and when compared with the year prior, it was down 19%. As of June, the average sales price for a non-distressed property was $190,000, while a foreclosed property was $120,000.


The Nation’s Top Five Highest Foreclosure States:

1. Florida
1 in every 409

2. Maryland
1 in every 578

3. Illinois
1 in every 645

4. Ohio
1 in every 742

5. Iowa
1 in every 840

U.S.
1 in every 1228

Florida
The state of Florida’s foreclosure filings received for the month of June was 6% higher than the month prior and 13% lower than the previous year. In May, home sales were down by 0% compared to the previous month and down by 7% when compared with last year’s report. Median sales price for a non-foreclosure home in FL was $150,000, meanwhile, a distressed property was $105,000.

Maryland
In the month of June, Maryland’s foreclosure filing received was 7% higher than the month of May and 12% higher than the previous year. In May 2014, home sales were up 10% compared to April and down 16% from last year’s. On average, a non-foreclosure property in the state was $240,000. A foreclosure property, however, was $141,000.

Illinois
Illinois’ foreclosure filings received in June was 23% higher than the previous month and 19% lower than last June. The home sales were up by 7% in May when compared with April’s report, and down 8% from a year ago. The Median sales price for a non-distressed property was $187,000 and $100,000 for a distressed property.

Ohio
In the month of June, Ohio’s foreclosure numbers was 9% higher than a month ago and 13% lower than a year ago. Home sales, however, were up 22% according to a most recent report in May, and down 14% from a year ago. The average sales price for a non-distressed home was $120,000, while a distressed property costs $55,000.

Iowa
The state of Iowa’s foreclosure filings was 49% higher than the month prior and 65% higher than the year before, landing them on number five. In May, home sales in Iowa were up 36% compared with the previous month, and down 51% from the same time last year. A non-distressed home in average in Iowa was $133,000, while a distressed home went for $70,000.

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About the Author

About the Author: Jessica Lucas is the managing editor for Mortgage Home Base, a top real estate finance blog dedicated to helping borrowers and home buyers understand the home loan process. Follow Jessica on Google +, and share your comments here. .
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