RI Foreclosures are Up 55% From a Year Ago and Up 19% From March
One in every 525 households received a foreclosure notice in April, according to RealtyTrac.
The Irvine, Calif.-based real-estate tracking firm said 861 properties in Rhode Island, or one in every 525 homes, received a foreclosure notice last month. The state’s foreclosure rate ranked 19th-highest among the 50 states.
Nationally, RealtyTrac said one in every 387 homes received a notice in April, a drop of 2.4 percent from a year ago and down 9 percent from March 2010.
When you get down to individual state foreclosure statistics, what you really talking about is that state's economy. We've seen the median price of a home in Rhode Island stabilize and even creep up a bit. We've seen the tax stimulus encourage people to get back into the real estate market. But now that that is over, it's going to be our local Rhode Island economy that provides the true heartbeat for our real estate market.
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