The States With the Most Homes in Foreclosure - 24/7 Wall St.

The States With the Most Homes in Foreclosure - 24/7 Wall St. Nevada > 2011 foreclosure rate: 5.3% > December, 2011 unemployment: 12.6% (the highest) > Home price change (2006Q3-2011Q3): -59.3% (the largest decline) > Processing period: 116 days

For Nevada, things aren’t going well. Its already dismal economy and housing situation are still getting worse. Nevada didn’t experience a glut of foreclosures last year because the state has a particularly lengthy foreclosure process. Between the third quarter of 2006 and the third quarter of 2011, the median home value in the state tumbled by nearly 60%. By the third quarter of this year, Fiserv-Case Shiller projects home prices will fall an additional 13.9% — by far the worst drop in the country. Nevada has the worst unemployment rate in the country, at 12.6%, and 13.4% of mortgage owners were delinquent on payments for 90 days or more last year.

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