Foreclosures Running StrongBy
Foreclosure rates tend to dip in April because people who are in precarious situations are able to sell their homes during the strong spring buying season. Last year, for example, the number of foreclosures reported nationally fell about 10% in April. But this is no ordinary year. RealtyTrac says foreclosures fell only about 1% this April. They were up 62% from a year earlier. RealtyTrac is now expecting foreclosures for 2007 as a whole to be up around 40% from 2006, vs. the 20-25% increase it was expecting at the start of the year.
For a BusinessWeek slide show of the states with the highest foreclosure rates, click here.
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