U.S. Foreclosure Activity Increased 75% in 2007

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Realty Trac has released data showing that 2,203,295 foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on 1,285,873 properties nationwide during 2007, up 75 percent from 2006. The report also shows that more than one percent of all U.S. households were in some stage of foreclosure during the year, up from 0.58 percent in 2006. December alone showed an increase in foreclosure activity of seven percent.

The hardest hit area was Nevada, with 3.4 percent of all households in some stage of foreclosure proceedings. On a monthly basis, Nevada also had the highest foreclosure activity for all 12 months in 2007. Florida won the silver medal with more than two percent of households in foreclosure, while Michigan took home the bronze with 1.9 percent. Other states in the top ten included California, Colorado, Ohio, Georgia, Arizona, Illinois and Indiana, all with more than one percent of households entering some stage of foreclosure proceedings.

You can find more details, including a detailed listing of foreclosures by state here.

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