12 US housing markets getting rocked by foreclosures
According to the real estate information company RealtyTrac, foreclosures rose in the third quarter from this time last year, and many states are seeing significant increases.
"The widespread rise in foreclosure activity in the third quarter compared to a year ago is the result of two starkly different trends taking place," said Daren Blomquist, vice president at RealtyTrac in the report. "In states such as New Jersey, Massachusetts, and New York, a flood of deferred distress from the last housing crisis is finally spilling over the legislative and legal dams that have held back some foreclosure activity for years."
33 states had year-over-year increases in foreclosure activity, and the country registered a 3% increase as a whole.
Bank repossessions, one of the better known types of foreclosure activity, increased 66% in the third quarter from the same time period in 2014 with a total of 123,040 properties seized.
RealtyTrac also included a breakdown of each state's foreclosure information. We've compiled the 12 states with higher foreclosure rates than the national average, which was 1 house out of every 407. Each state also includes the change in foreclosure activity from the third quarter last year and the total number of properties involved in foreclosure.
Check it out below from lowest foreclosure rate to highest.