Idaho’s foreclosure rates last year put the state among the Top 10 nationwide.
The RealtyTrac Year-End U.S. Foreclosure market report, released Jan. 13, said almost 3 percent of all the housing units in Idaho received at least one foreclosure filing during the year.
The national average was 2.3 percent.
Marc Lebowitz, executive director of the Ada County Association of Realtors, said the number of “distressed properties,” or properties in short sale, in foreclosure, or bank-owned, peaked last spring before declining gradually into the summer. But it rose again in the fall, he said, hitting 45 percent in December. That was almost 20 percent higher than the year before.
But housing inventory in Ada County is lower than it has been since it peaked in mid-2007, Lebowitz said. Then, there were more than 4,500 houses for sale; right now, there are only 2,600 for sale in the county.
“That’s good news for the home sellers in terms of stabilization,” Lebowitz said.
RealtyTrac, an online marketplace for foreclosed properties, said foreclosures rose 2 percent between 2009 and 2010 around the country. The 10 states with the highest rates of foreclosure last year were Nevada (9 percent), Arizona (5.7 percent), and Florida (5.5 percent), California (4.08 percent), Utah (3.44 percent), Georgia (3.25 percent), Michigan (3.00 percent), Idaho (2.98 percent), Illinois (2.87 percent), and Colorado (2.51 percent).
Nevada had the highest foreclosure rate in the nation for the fourth consecutive year, according to RealtyTrac.
- Anne Wallace Allen, Idaho Business Review
Although it is nothing to be proud of, being listed in the top 10 list of foreclosures, we still have many homes available that are neither short sales or bank-owned.
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