“U.S. foreclosure activity experienced a fairly broad-based retreat in September, with 39 states reporting decreasing activity and national numbers down in all foreclosure categories — defaults, auctions and bank repossessions,” said James J. Saccacio, chief executive officer of RealtyTrac. “Nevertheless, it’s important to note that September’s total was still the second highest monthly total we’ve seen since we began issuing our report in January of 2005. It’s too early to tell if September’s numbers represent a one-month lull or if they could signify that more buyers and investors are getting back in the market and snatching up discounted foreclosure properties, thereby providing a release valve for distressed homeowners and overwhelmed lenders.”

Nevada, Florida, California post top state foreclosure rates
For the ninth month in a row Nevada reported the highest foreclosure rate among the states — one foreclosure filing for every 185 households — despite an 11 percent drop in foreclosure activity from the previous month. The state reported 5,504 foreclosure filings for the month, still up 187 percent from September 2006.

Florida foreclosure activity slipped 2 percent from the previous month, but the state’s foreclosure rate — one foreclosure filing for every 248 households — moved up to the nation’s second highest in September after being the third highest in August. The state reported 33,354 foreclosure filings for the month, the second highest total of any state and up 158 percent from September 2006.

California reported 51,259 foreclosure filings in September, the most of any state and one foreclosure filing for every 253 households — the nation’s third highest state foreclosure rate. The state’s foreclosure activity was down 11 percent from the previous month but still up 246 percent from September 2006.

Other states with foreclosure rates ranking among the nation’s 10 highest were Michigan, Arizona, Georgia, Ohio, Colorado, Texas and Indiana.

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