RealtyTrac’s November 2007 U.S. Foreclosure Market Report showed a total of 201,950 foreclosure filings (default notices, auction sale notices and bank repossessions), up 68 percent from November 2006, according to CreditandCollectionsWorld.com.
The national foreclosure rate for the month was one foreclosure filing for every 617 households. With one foreclosure filing for every 152 households – more than four times the national average – Nevada continued to register the nation’s top state foreclosure rate for the 11th straight month. A total of 6,694 foreclosure filings were reported in Nevada during November 2007, up 1 percent from October and up 167 percent from November 2006.
Florida’s rate of one foreclosure filing for every 282 households ranked second highest among the states, despite a 3 percent month-to-month decrease in foreclosure activity. A total of 29,238 foreclosure filings were reported Florida last month, up 212 percent from November 2006.
California cities accounted for five of the nation’s top 10 metro foreclosure rates in November 2007, one fewer than during October.