Here are the facts about foreclosure statistics. I provide this information to you because the national news makes it sound like most of the homes in the nation are in foreclosure and that is not the case - especially here at home in Washington State.
According to the May 2009 data that was just released by Realty Trac, a national foreclosure trend reporting company, there are 3,833 properties in foreclosure in Washington State. This translates to 1 out of every 715 housing units is in foreclosure.
- King County has 1,002 properties in foreclosure, which means 1 out of every 815 housing units is in foreclosure.
- Pierce County has 817 properties in foreclosure, which means 1 out of every 384 housing units is in foreclosure.
- Snohomish County has 589 properties in foreclosure, which means 1 out of every 468 housing units is in foreclosure.
Just for comparison, Oregon has 3,067 homes in foreclosure which translates to 1 out of every 524 housing units is in foreclosure.
Here are the top five states with properties in foreclosure, according to the data published by Realty Trac.
- California still has the most number of properties in foreclosure in the nation: 92,249, which means 1 out of every 144 housing units is in foreclosure.
- Florida has 58,931 properties in foreclosure, which means 1 out of every 147 housing units is in foreclosure.
- Nevada has 17,157 properties in foreclosure, which means 1 out of every 64 housing units is in foreclosure.
- Arizona has 16,865 properties in foreclosure, which means 1 out of every 158 housing units is in foreclosure.
- Michigan has just moved into the top five with 13,891 properties in foreclosure, which means 1 out of every 325 housing units is in foreclosure