Forclosures peak this month and March 2008
The October forclosure figure is a 568 percent increase over the same period in 2006.
There were 8,818 properties sold in September in foreclosure auctions with a value of $3.6 Billion dollars, according to ForeclosureRadar.
“We see no sign of a foreclosure peak at this point, and we don't expect to see one until the third or fourth quarter of 2008 at the earliest,” says ForeclosureRadar.
“The sales we are seeing now are from missed payments in March. So current auction sales really have not yet been impacted by either August’s liquidity crunch or the ARM reset peaks this month and again in March 2008,” he says.
posted by Dr. Jeff Lazarus MD at 7:17 AM
2 Comments:
That certainly helps put housing market in perspective. The highest foreclosure rates are still to come.
I am new to this blog and was wondering from where you get these #s. I would like to see foreclosure data based on the area.
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