From the doom and gloom we are hearing around town these days, I bet most Michiganders would be surprised to know that RealtyTrac said we were 5th in foreclosures in November. 1 in 309 Michigan homes is in foreclosure, compared to the nation’s leader, Nevada, where 1 in 76 homes is in foreclosure.
A few big banks agreed to stop foreclosing until after the new year, so the January numbers could bounce significantly, especially with all of the recent layoffs across the country.
Chart from Realtytrac.com
Written by Maureen Francis
SKBK Sotheby's International Realty, 248.430.4450
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{ 3 comments… read them below or add one }
myrtle beach 12.13.08 at 10:21 pm
thank you for posting, detroit seems to be going to continue this depression they are in
bugsy 12.21.08 at 2:07 pm
I wish this chart was represented as a percentage of homes. As you mentioned the difference between Nevada and Michigan. I mean California is naturally going to lead the total because they have a population of 30 million people compared to 10 million or so in Michigan.
Maureen Francis 12.21.08 at 2:13 pm
Very good point, Bugsy. Thanks for stopping by.