There were foreclosure filings against 219,258 U.S. housing units during April, a 9 percent drop from March, and a year-over-year decline of 34 percent, according to the latest monthly statistics from the housing market data collection firm RealtyTrac. This means that one of every 593 housing units in the country received some sort of foreclosure action.
“Foreclosure activity decreased on an annual basis for the seventh straight month in April, bringing foreclosure activity to a 40-month low,” said James Saccacio, chief executive officer of RealtyTrac. “This slowdown continues to be largely the result of massive delays in processing foreclosures rather than the result of a housing recovery that is lifting people out of foreclosure.”
Overall, 10 states account for 70 percent of all the foreclosure activity in the country, the report said. Those states suffering the most heavily under the weight of an unhealthy housing market are California, Florida, Arizona, Michigan, Nevada, Illinois, Texas, Georgia, Ohio and Colorado.
Many of the aforementioned states have received substantial help from the federal government to help stem the number of foreclosures.