Today, RealtyTrac published the latest data on nationwide foreclosures. The numbers are bad:

  • During the first quarter of 2007, there were more than 430,000 foreclosure filings, i.e. default notices, auction sale notices or bank repossessions.
  • Foreclosures are up 27 percent on the previous quarter and up 35 percent on the first quarter of 2006.
  • Nationwide, there is one foreclosure filing for every 264 houses.

    Foreclosure activity in some states has reached epidemic levels.

  • Nevada has a foreclosure rate 3.5 times the national average. It has one foreclosure for every 75 households.
  • Colorado had one foreclosure for every 111 households.
  • Georgia had one foreclosue for every 138 households.
  • California reported the highest overall amount of foreclosures; 80,595, and accounted for 18 percent of the total. Overall, its foreclosure rate is 1.7 times the national average with one household in 152 households
  • Foreclosures in Florida increased by a staggering 55 percent compared to the previous quarter. The state ranked second in terms of overall foreclosure activity.