U.S. Home Foreclosures Often Outnumber Sales
March 3, 2008
Nevada–The U.S. foreclosure problem is concentrated in the West–but is growing across the entire country so quickly that the number of foreclosure proceedings filed each month often exceeds the number of homes sold in some areas, The New York Times reports.During January, 153,745 initial foreclosure notices were given out nationwide–and yet, just 43,000 new single-family…
Nevada–The U.S. foreclosure problem is concentrated in the West–but is growing across the entire country so quickly that the number of foreclosure proceedings filed each month often exceeds the number of homes sold in some areas, The New York Times reports.During January, 153,745 initial foreclosure notices were given out nationwide–and yet, just 43,000 new single-family homes were sold. according to Irvine, Calif.-based foreclosure listing source RealtyTrac.In the West, the number of home sales barely outpaced foreclosure issuings; Nevada particularly has a high amount of foreclosures, the Times said.
