The real estate bubble and subsequent market crash that occurred in 2008-2009 has created a massive backlog of foreclosures. While the real estate market has been correcting over the last 6 years, the backlogs have slowly been drying up. However, there are still plenty of opportunities left as banks unload their remaining foreclosure inventories. The top 10 states for foreclosures in 2015 as reported in a BankRate article with statistics are listed below. These numbers are for November of 2014. The national average for foreclosures are 1 in 1170 housing units producing a foreclosure filing.
1 in 462 housing units posted a foreclosure, down 3.9% from the previous month
1 in 478 housing units posted a foreclosure, up 83.58% from the previous month
1 in 581 housing units posted a foreclosure, down 31.1% from the previous month
1 in 693 housing units posted a foreclosure, up 8.52% from the previous month
1 in 750 housing units posted a foreclosure, up 27.54% from the previous month
For an article about the hot real estate markets for 2015 Click here.
Continue reading about the top foreclosure markets below or for the next five states goto BankRate.
In another article some of the top markets for foreclosures are in Florida. The top 10 cities with the highest foreclosure rates as of June 2014 according to 24/7wallst are listed below.
Palm Bay-Melbourne-Titusville, Fla.: 1 in every 303 housing units
Deltona-Daytona Beach-Ormond Beach, Fla.: 1 in every 314 housing units
Orlando-Kissimmee, Fla.: 1 in every 336 housing units
Lakeland, Fla.: 1 in every 379 housing units
Port St. Lucie, Fla.: 1 in every 381 housing units
Ocala, Fla.: 1 in every 384 housing units
Tampa-St. Petersburg-Clearwater, Fla.: 1 in every 386 housing units
Miami-Fort Lauderdale-Pompano Beach, Fla.: 1 in every 405 housing units
Rockford, Ill.: 1 in every 450 housing units
York-Hanover, Pa.: 1 in every 478 housing units
For more on the highest foreclosure cities click here.