The month of October marks the third consecutive month where foreclosure activity has declined. This is seen by many analysts that the market is on the mend, while others continue to predict another wave of new activity. A big factor of concern is that no one is aware of the actual amount of inventory that has not yet been released to the market by banks.
The highest rates of foreclosure activity have been experienced in the following states: Nevada, California, Illinois, Arizona, Idaho, Maryland Utah, Georgia and Michigan.
Of these states four made up for over 50% of all foreclosure activity. These states are California, Florida, Michigan and Illinois. The following states made the top ten list for the having the most foreclosures: New Jersey, Georgia, Texas, Arizona, Ohio and Nevada.
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