Foreclosures Rise 21 percent in 2009

Foreclosures rose 21 percent in 2009 compared with 2008, as nearly 3 million properties received a foreclosure filing, according to RealtyTrac?????s Year End 2009 Foreclosure Market Report.??

Foreclosure filings were reported on 349,519 U.S. properties in December, a 14 percent increase from November and a 15 percent increase from December 2008.?? Despite the increase in December, foreclosure activity in the fourth quarter decreased 7 percent compared with the third quarter, according to the report.

California continued to lead the nation in foreclosure activity by volume, with 632,573 California properties receiving a foreclosure filing in 2009.?? Following four consecutive month-over-month declines, California foreclosure activity increased approximately 9 percent in December compared with November.?? Foreclosure filings declined 17 percent in California in the fourth quarter compared with the third quarter, the report found.

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Copyright?? 2010, California Association of REALTORS?? (C.A.R.).?? Used with permission provided by the C.A.R. Legal Department.

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