NY, NJ rank among five states with highest foreclosure rates

May 01, 2012 11:30AM

While the national foreclosure inventory decreased year-over-year last month, New York and New Jersey were a couple of the states that saw an increase, putting them among the five states with the highest foreclosure rates, according to data released today by CoreLogic. Florida ranked first with a 12.1 percent foreclosure inventory rate, New Jersey came in second with 6.6 percent while New York came in fifth with 4.9 percent.

New York’s foreclosure inventory rate marks an 0.8 percent increase from March 2011. There were a total of 3,681 completed foreclosures in the state for the year ending March 2012.

In the New York City-White Plains, NY-Wayne, NJ region, CoreLogic recorded a 5.5 percent foreclosure inventory rate for March 2012 — a 0.4 percent increase from March 2011. The regional 90-plus day delinquency rate stayed roughly the same in March 2012 as the state-wide tallies, coming in at 8.7 percent, which is a 0.2 percent increase from March 2011. Year-over-year, there were a total of 838 completed foreclosures.

As The Real Deal previously reported, the December 2011foreclosure and delinquency rates for the same regions set a new record. The other states of the five with the highest foreclosure rates were Illinois at 5.4 percent and Nevada at 4.9 percent, according to CoreLogic. — Zachary Kussin