Foreclosures continue to challenge markets

The housing market continues to be hit with high levels of foreclosures, according to RealtyTrac's monthly foreclosure report.
Nationwide, more than 358,000 properties were in foreclosure in August, slightly less than there were in July, but about 18 percent more than in August 2008.
One in every 62 homes received a foreclosure filing in August in Nevada, down 8 percent from July, but still the nation's highest percentage. Florida and California had the second- and third-highest rates, followed by Michigan, Idaho, Utah, Colorado, Georgia, and Illinois.
In terms of actual foreclosures, six states accounted for 62 percent of the total foreclosure activity in August. Those states were California, Florida, Michigan, Nevada, Arizona, and Illinois. Other states with totals among the 10 highest were Georgia, Ohio, Texas, and New Jersey.

Source: RealtyTrac (09/10/2009)