Texas Leads Nation in Home Foreclosures

Texas, Ohio, Michigan, Georgia and Indiana led the nation last month in foreclosed homes, reflecting a nationwide increase in residential foreclosures currently playing out across the United States, according to new data and analysis from Foreclosure.com, which operates America’s largest and most accurate database of foreclosed residential properties.

In addition to having the largest number of foreclosed homes in the nation, these five states also experienced some of the fastest month-over-month growth in foreclosures among all states, Foreclosure.com data revealed.

Texas, which led the nation in foreclosed homes, experienced a 38 percent increase in its total number of residential foreclosures during March. The total number of foreclosed homes in Ohio, Michigan, Georgia and Indiana also increased in each state by about one third — an average of 33 percent — last month.

“Markets that benefited disproportionately from the housing boom over the last five years are most susceptible to foreclosures. However, as our March data indicates, even areas where home prices didn’t appreciate as quickly are now seeing increased foreclosures,” said Brad Geisen, president and CEO, Foreclosure.com.

“Foreclosure data is a powerful resource for making informed investment decisions, whether you’re an experienced real estate investor or a first-time home buyer,” Geisen said. “However, it is vital that the data be accurate, timely and verified. Anyone seeking to understand a given real estate market, or anyone taking a look at a larger geography, needs to make certain they are using good data — not a hodgepodge of old and new information with little connection to what’s going on in the ‘real world.’”

Foreclosure.com delivers the most accurate and complete residential foreclosure property listings, available in an easy, accessible format, for a wide variety of users, from banks and real estate brokerages to small, private investors and first-time home buyers. There are other sources on the Web, but no other site comes close to providing the same level of depth, detail and accuracy that Foreclosure.com does.