Florida, Nevada, Illinois post highest state foreclosure rates
Florida's foreclosure rate ranked highest among the states for the sixth month in a row in February. One in every 282 Florida housing units had a foreclosure filing during the month -- more than three times the national average. A total of 31,726 Florida properties had a foreclosure filing during the month, up 6 percent from the previous month and up 20 percent from February 2012 to a 16-month high.
Nevada foreclosure starts in February increased 334 percent from a year ago to a 17-month high, keeping the state's foreclosure rate as the second highest nationwide for the fifth month in a row. One in every 320 Nevada housing units had a foreclosure filing in February, more than twice the national average.
Despite the third straight month-over-month decrease in foreclosure activity in February, Illinois posted the nation's third highest state foreclosure rate for the second month in a row: one in every 417 housing units with a foreclosure filing. A total of 12,671 Illinois properties had a foreclosure filing in February, down 10 percent from the previous month and down 5 percent from February 2012.
Ohio foreclosure activity increased 26 percent from the previous month and was up 12 percent from a year ago, boosting the state's foreclosure rate to the fourth highest among the states. Ohio foreclosure activity has increased on an annual basis in 11 out of the past 13 months.
Washington foreclosure activity increased on an annual basis for the seventh consecutive month in February, helping to push the state's foreclosure rate to fifth highest nationwide. February's No. 5 ranking was the highest foreclosure rate ranking for Washington since RealtyTrac began issuing its report in January 2005. A total of 4,362 Washington properties had a foreclosure filing during the month, an increase of 123 percent from February 2012 and one in every 656 housing units.
Maryland foreclosure activity increased on an annual basis for the eighth consecutive month in February, driven largely by a 319 percent jump in foreclosure starts, lifting the state's foreclosure rate to the ninth highest nationwide. February was the first month since July 2010 that Maryland's foreclosure rate ranked among the top 10 nationwide.
Foreclosure activity was flat or decreased from a year ago in the other four states with foreclosure rates among the top 10: Arizona at No. 6 (one in 704 housing units with a foreclosure filing); Georgia at No. 7 (one in 705 housing units); Utah at No. 8 (one in 713 housing units); and Michigan at No. 10 (one in 724 housing units).
Although California foreclosure starts rebounded 47 percent in February from an 88-month low in January, overall foreclosure activity in the state was down from a year ago for the 15th straight month, dropping the foreclosure rate down to No. 13 nationwide. February was the first month since December 2006 where the California foreclosure rate was not ranked among the top 10 state foreclosure rates nationwide.
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