Home Foreclosures Up or Down?

by Coldwell Banker Evergreen Olympic Realty, Inc. on February 11, 2011

Yesterday, a news story today reported “U.S. home foreclosures jumped 12 percent in January 2011 over the month of December 2010.” The implication one could take away is that foreclosures are sharply on the rise. However, December is historically a very slow time for foreclosures. So a 12 percent increase from a smaller number is not a big jump in terms of real numbers.

Perhaps a more important stat compares this January to last. That is a more “apples to apples” comparison and shows a significant drop. According to the real estate data firm RealtyTrac, foreclosures fell 11 percent in January 2011 from January 2010. While Washington’s housing market still faces challenges, it remains healthier than the hardest hit parts of the country. California, Florida, Michigan, Illinois and Arizona have more than half of all foreclosure filings.

To read a related story, please visit: http://cnbc.com/id/41505006.

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