The Top 10 Foreclosure States

Posted by - Friday, August 10th, 2012

Foreclosures rates have been high for a while. Starting a steady increase before the recession, foreclosures were at their highest level between 2009 and 2010.

Now they've begun a slow and steady decline, and filings dropped for 21 consecutive months.

July marks month 22. Default notices, scheduled auctions, and bank repossessions declined 3% from June and 10% from a year ago according to RealtyTrac.

But some states maintained high levels even with the decline. One in every 686 houses nationwide had a foreclosure filing in July. Other states have fared much worse.

Here are the ten states with the highest foreclosure rates in July.

California

California's foreclosure rate was nearly double the national average. One in every 325 homes received foreclosure filings, and the average sale price on foreclosures was higher as well. The national average price was $202,664, but in California it was $259,124.

Arizona

Arizona foreclosures were almost as high as California's in July. Every one in 346 homes received filings last month, while the average foreclosure price was $152,491.

Florida

The Sunshine State may have been warm in July, but the housing market was less than sunny. One in 352 houses received foreclosure filings, and the average sale price was $122,889.

Georgia

Another southern state had a struggling housing market. One in 376 Georgia housing units received foreclosure filings in July, with an average sale price below the national average at $105,941.

Illinois

Illinois had the fifth most foreclosures for July. One in 385 houses received filings, and sale prices were $119,327.

Nevada

Nevada came in sixth with one in 415 foreclosure filings. The state had 2,847 foreclosed properties in July, and the average sale price was $137,393.

Michigan

Moving back up north, foreclosure filings were also high in Michigan, where one in 518 homes received filings. The average sale price was well below the national average at $74,909.

Ohio

Ohio had the eight most foreclosures in the nation with a rate of one in 528 housing units. While this is closer to the national average, it's still below. The average sale price was $76,487.

South Carolina

South Carolina also had its fair share of foreclosed properties. One in 536 houses received a filing in July, with an average sale price of $158,057.

Indiana

Indiana came in tenth, with a foreclosure rate just under the national average. One in 665 houses received foreclosure filings last month, with the lowest average sale price of all the top ten – $66,518.

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