Bank Foreclosures Sale Reports Fewer Foreclosures in January

| From
Bank Foreclosures Sale

MIAMI, Fla. (SEND2PRESS NEWSWIRE) -- New statistics from Bank Foreclosures Sale, a leading online provider of foreclosure listings and information, reveal that foreclosure rates in states across the nation were down significantly during January. Nationally, the number of foreclosures for sale fell by 10 percent from December to January, with a total of 315,710 foreclosure homes reported. While these figures do indicate that the new year seems to be getting off on the right foot for buyers and investors, experts point to the fact that this month's total may be down, but is still 15 percent higher than it was in January of 2009.

However, there are plenty of positive signs out there, especially when you narrow in on the statistics for regional markets. For example, the top 6 states for foreclosure rates, Nevada, Arizona, California, Florida, Texas and Illinois, accounted for 60 percent of the national foreclosure property total. However, these states are not seeing anywhere near the foreclosure growth rates that they have previously. Texas and California saw their foreclosures drop by roughly 11 percent, while Florida experienced a 14.9 percent decrease in foreclosure homes.

Similarly, Phoenix, AZ was the only metropolitan area in the Top 10 for foreclosures to see an increase in January, and it was only a 4 percent gain. Other cities, such as Orlando, FL; San Bernardino, CA; and Cape Coral, FL all saw significant decreases.

"These are some of the biggest foreclosure inventories in the nation, so this should be a signal to buyers," remarked Simon Campbell, a Business Analyst for Bank Foreclosures Sale. "Less foreclosures means climbing home values, and with sale prices for foreclosed homes already looking up in many areas, this could be the beginning of a great year for buyers."

Other areas with notable decreases in foreclosure homes during January were New Jersey, down 39.3 percent; North Carolina, which fell 11.3 percent; Ohio, down 5.5 percent; and Alabama, where foreclosures dropped by 28.4 percent.

Some states did see hikes in foreclosures during January, but interestingly these are not areas usually associated with high foreclosures. Experts believe that Nebraska, up 68.4 percent; Oregon, increasing by 13.5 percent; and Delaware, rising 78.9 percent, could be experiencing the effects of unemployment and the economic recession rather than the flooded market and inflated mortgages driving high foreclosures in the Sun Belt states.

To stay informed about the latest foreclosure news and information or to search foreclosure listings in your area, visit .

News Source:
Like, Share, Save this press release:
  TWEET   SHARE   G+   PIN IT   STUMBLE   LinkedIn   Instapaper   Buffer

The content of the above press release was provided by the “news source” (Bank Foreclosures Sale) or authorized agency, who is solely responsible for its accuracy. Send2Press® is the originating wire service for this story and content is Copr. © 2010 Bank Foreclosures Sale with newswire version Copr. © 2010 Send2Press (a service of Neotrope). All trademarks acknowledged.

Rights granted for reproduction by any legitimate news organization. However, if news is cloned/scraped verbatim, then original attribution must be maintained with link back to this page as “original syndication source.” Resale of this content for commercial purposes is prohibited without a license. Reproduction on any site selling a competitive service is also prohibited. Information is believed accurate, as provided by news source or authorized agency, however is not guaranteed, and you assume all risk for use of any information found herein/hereupon. This work is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License.
STORY READS for this single page only, as of Oct 26 2016:
[ count retired 8.4.16 ]

Real Estate, Miami Business, or: Search

back to top
REFERENCES: Bank Foreclosures Sale, online foreclosure listings, latest foreclosure news and information or to search foreclosure listings in your area, Florida business, BankForeclosuresSale, Simon Campbell, Business Analyst, online provider of foreclosure listings and information, news, press release from Bank Foreclosures Sale, Mar 1, 2010, Real Estate, Finance, , Miami, Florida, Bank Foreclosures Sale Reports Fewer Foreclosures in January