Despite signs of an improved economy, foreclosure filings rose 6.7% last month, according to data released today by RealtyTrac, an online seller of foreclosed properties.
Nationally, 360,149 properties received a foreclosure filing during the month, compared with 336,173 in June. The national rate was one in 355 housing units, a 32.3% increase from July 2008.
RealtyTrac defines foreclosure filings as default notices, scheduled auctions and bank repossessions.
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For the 36th consecutive month Nevada had the highest foreclosure rate, one in every 56 housing units. California was second at one in 123 housing units, and Arizona was third with a rate of one in 135 housing units.
Nevada, California, Arizona and Florida accounted for 57% of the foreclosure activity.
"July marks the third time in the last five months where we've seen a new record set for foreclosure activity," said RealtyTrac CEO James J. Saccacio in a statement. "Despite continued efforts by the federal government and state governments to patch together a safety net for distressed homeowners, we're seeing significant growth in both the initial notices of default and in the bank repossessions."
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