RealtyTrac released the year-end data from their 2005 U.S. Foreclosure Market Report on Monday, showing a 25% increase in nationwide foreclosures over the year.
“Overall U.S. foreclosure numbers climbed steadily over the course of the year, with more new foreclosures reported in every quarter,” said James J. Saccacio, chief executive officer of RealtyTrac. “This trend appears to be moving the real estate foreclosure market back to its historic levels.”
Other states with foreclosure rates ranking among the 10 highest nationwide were Georgia, Arizona, Indiana, New Jersey, Ohio and Tennessee. All of these state documented annual foreclosure rates of at least 1 percent of total households and reported new foreclosures increasing from the first quarter to the fourth quarter.
New Jersey Forclosures – 2005
Total 35125 (108% Increase)
More than 1 in 100 New Jersey homes were in some state of foreclosure last year. The spike in Q4 should be a good indicator of the recent trend. As prices fall and rates increase or adjust the figure will only grow higher.