US home foreclosures soar
(01-15 13:59)
US home foreclosures, the epicenter of the financial crisis, spiked 81 percent last year.
Foreclosure filings, made up of default notices, auction sale notices and bank repossessions, totaled 3.16 million and were reported on 2.33 million properties, said RealtyTrac.
One in 54 housing units, or 1.84 percent of all US housing units, received at least one foreclosure filing, up from 1.03 percent in 2007.
Last month alone, foreclosure filings spiked 17 percent from November to 303,410 properties. That was nearly 41 percent higher than in December 2007.
On a quarterly basis, foreclosure activity in the fourth quarter fell nearly 4 percent from the third quarter but was still nearly 40 percent higher than a year ago.
AGENCE FRANCE-PRESSE |
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