Industry News

Colorado, Michigan lead nation in new foreclosures

Detroit metro area sees filings more than double from December
Published on Feb 12, 2007

New U.S. foreclosure filings increased 19 percent from December to January and increased 25 percent compared to January 2005, according to RealtyTrac, an online marketplace for foreclosure properties. The January 2007 U.S. Foreclosure Market Report found that 130,511 new foreclosure filings were reported in January, which is a rate of one new foreclosure filing for every 886 U.S. households. Nevada replaced Colorado as the state with the highest foreclosure rate in January, rising 8.31 percent compared to December and 33.54 percent compared to January 2006, RealtyTrac reported. There were 2,397 new foreclosure filings during the month in Nevada, for a foreclosure rate of one new foreclosure filing for every 362 households. This rate is 2.4 times the national average. Colorado, which topped the list in December, dropped to fourth place. The number of new foreclosure filings in that state dropped 0.23 percent compared to December and was up 29.5 percent compared to January 2006, with o...

Comments