Foreclosures Increase 9 Percent In First Quarter Of 2009

The number of foreclosures increased 9 percent in the first quarter of 2009 from the last quarter of 2008. They rose nearly 24 percent from a year earlier, RealtyTrac reported recently.

In March alone, lenders foreclosed on more than 340,000 properties, up 17 percent from February and up 46 percent from March 2008.

The top 10 states for foreclosures in the first quarter of 2009 were:

1. Nevada
2. Arizona
3. California
4. Florida
5. Illinois
6. Michigan
7. Georgia
8. Idaho
9. Utah
10. Oregon

The top 5 states accounted for nearly 60 percent of the foreclosures in the first quarter, reports RealtyTrac.

RealtyTrac is a Web site that lists foreclosed properties for sale and tracks data on foreclosures. Included in foreclosures are properties up for auction, bank repossessions and default notices.

April 22, 2009