Foreclosures still rising
June 13th, 2007, 10:03 am · Post a Comment · posted by mistywilliams
More than 176,000 properties across the country entered some stage of foreclosure in May, a 19 percent increase from the month before and a 90 percent spike from the same period last year. Arizona is ranked No. 6 nationwide for foreclosures with 5,918 properties entering foreclosure last month — a nearly 200 percent increase from May 2006.That’s according to a report released this week by RealtyTrac, an online marketplace for foreclosure properties.Nevada topped the firm’s list with a 375 percent jump in foreclosure activity. Colorado, California, Florida and Ohio rounded out the top five.Analysts worry that the increase in foreclosure activity during the spring when sales are typically strongest could mean even higher rates later in the year.







