Although the percentage of foreclosures has dropped 9.4% over the past year, some states are still struggling. According to MarketWatch, the top 5 states with the most foreclosure inventory, as of May, are New Jersey, Florida, New York, Hawaii, and Maine. The map below shows that most of the country has a low inventory of foreclosures (in dark to light blue) which is good news for the housing market. The states with the red tone colors indicate that the housing market is recovering slowly.
The number of foreclosures are less, however there are still more than double the amount of foreclosures than there were before 2007. Almost 7 years after the crash and we can still see signs of the housing bubble.
Oyezz’s short sale experts help homeowners prevent foreclosure. Give us a call and let us help you at (214) 342-0011.