Home > Economy, Trends > 2010 Numbers: Record 2.9 Million U.S. Properties Receive Foreclosure Filings

2010 Numbers: Record 2.9 Million U.S. Properties Receive Foreclosure Filings

January 20, 2011

While our President is cozying up to China’s president and Chicago’s Boeing is dealmaking to see the Chinese planes 2.9 million Americans lost their homes in 2010. And as I just reported a few minutes ago, there will be another million-plus more foreclosures in 2011.

RealtyTrac reports:

Record 2.9 Million U.S. Properties Receive Foreclosure Filings in 2010 Despite 30-Month Low in December

IRVINE, Calif. – Jan. 13, 2011 – RealtyTrac® (http://www.realtytrac.com/gateway_co.asp?accnt=137300), the leading online marketplace for foreclosure properties, today released its Year-End 2010 U.S. Foreclosure Market Report™, which shows a total of 3,825,637 foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on a record 2,871,891 U.S. properties in 2010, an increase of nearly 2 percent from 2009 and an increase of 23 percent from 2008. The report also shows that 2.23 percent of all U.S. housing units (one in 45) received at least one foreclosure filing during the year, up from 2.21 percent in 2009, 1.84 percent in 2008, 1.03 percent in 2007 and 0.58 percent in 2006.

Foreclosure filings were reported on 257,747 U.S. properties in December, a decrease of nearly 2 percent from the previous month and down 26 percent from December 2009 — the biggest annual drop in foreclosure activity since RealtyTrac began publishing its foreclosure report in January 2005 and giving December the lowest monthly total since June 2008.

Entire article, click here

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