Foreclosure filings were up 3 percent nationally from September to October. According to RealtyTrac, a California-based firm that tracks foreclosures, these states had the highest rates of foreclosure in October. Nationally, 1 in every 706 housing units received a foreclosure filing last month.
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Top 10 foreclosures by state (as of October 2012)
- National foreclosure filing average: 1:706 housing units
- National average foreclosure sales price: $192,700
| States1 | Average price2 | Ratio of foreclosures3 | Rates4 | Income tax5 |
|---|---|---|---|---|
Florida
|
$117,754 | 1:312 | 3.5% | None |
Nevada
|
$139,323 | 1:352 | 3.38% | None |
Illinois
|
$116,994 | 1:356 | 3.43% | 5% |
California
|
$265,901 | 1:379 | 3.44% | 1.25% to 10.3% |
Arizona
|
$150,985 | 1:420 | 3.44% | 2.59% to 4.54% |
Georgia
|
$113,589 | 1:439 | 3.38% | 1% to 6% |
Ohio
|
$76,558 | 1:476 | 3.41% | 0.578% to 5.925% |
Colorado
|
$185,265 | 1:563 | 3.4% | 4.63% |
South Carolina
|
$132,284 | 1:601 | 3.33% | Up to 7% |
Michigan
|
$59,104 | 1:607 | 3.47% | 4.35% |
- 1States: According to RealtyTrac, these states had the highest rates of foreclosure in October.
- 2Average price: The average price of all properties sold during the month that were in some state of foreclosure.
- 3Ratio of foreclosures: Ratio is based on the total number of properties entered into RealtyTrac’s database during the month, broken out by type of filing.
- 4Rates: Average interest rate charged in the state for a 30-year fixed-rate mortgage based on Bankrate.com's Nov. 15, 2012, overnight averages.
- 5Income tax: The range of taxes levied by states on personal income. The tax is based on earned and unearned income.
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