May 2012: Top 10 states for foreclosure
Foreclosure filings were up 9 percent nationally from April to May. According to RealtyTrac, a California-based firm that tracks foreclosures, these states had the highest rates of foreclosure in May. Nationally, 1 in every 639 housing units received a foreclosure filing last month.
Did your state make the top 10 foreclosure list?
Top 10 Foreclosures by State (as of May 2012)
- National foreclosure filing average: 1:639 housing units.
- National average foreclosure sales price: $198,915.
|States1||Average price2||Ratio of foreclosures3||Rates4||Income tax5|
|$102,108||1:300||3.63%||1% to 6%|
|$143,669||1:305||3.66%||2.59% to 4.54%|
|$249,852||1:324||3.82%||1.25% to 10.30%|
|$68,593||1:495||3.60%||0.578% to 5.925%|
|$90,008||1:539||3.59%||Up to 7%|
- 1States: According to RealtyTrac, these states had the highest rates of foreclosure in May.
- 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 June 14, 2012, overnight averages.
- 5Income tax: The range of taxes levied by states on personal income. The tax is based on earned and unearned income.