US foreclosure declines

In its latest report, RealtyTrac saw lower foreclosure filings for the month of May.  With a decline of 6%, this translates to 321,480 U.S. properties filed. It also adds 1 in every 398 housing units received a filing last month. The leaders in foreclosure remain Nevada, California, and Florida.

Nevada continued to document the nation’s highest foreclosure rate, with  one in every 64 housing units receiving a foreclosure filing during the month — more  than six times the national average.

With one in every 144 housing units receiving a foreclosure filing during  the month, California posted the nation’s second highest state foreclosure  rate despite a 4 percent decrease in foreclosure activity from the previous  month.

Florida posted the third highest state foreclosure rate in May, with one in  every 148 housing units receiving a foreclosure filing during the month.

Here’s a rather bloody graph exhibiting the level of foreclosures in each state, also from RealtyTrac:

foreclose

Source: RealtyTrac

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