IRVINE, Calif. – Compared with September 2007, the number of home foreclosures in Rhode Island last month jumped 122.38 percent, according to RealtyTrac Inc., a compiler of real estate data.
In the Ocean State, 616 foreclosures were reported during the month, a number larger than the 494 foreclosures reported in August, which previously had reported a year-over-year increase of 46.1 percent (READ MORE).
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Nationally, September foreclosures jumped 20.98 percent from the same month last year. Rhode Island’s September foreclosure rate – one of every 730 homes – puts it as the 18th highest in the county, according to the report, released by RealtyTrac last week.
Nationwide, the number of foreclosures reported in September was 265,968, which represented a 12.48-percent drop from August 2008.
“Much of the 12-percent decrease in September can be attributed to changes in state laws that have at least temporarily slowed down the pace at which lenders are moving forward with foreclosures,” RealtyTrac CEO James J. Saccacio said in the report.
In Massachusetts, the 3,982 foreclosure filings in September signaled a 14.06-percent increase over the same month last year.
RealtyTrac Inc. is a publisher of data and advice for real estate markets nationwide. To learn more, visit www.realtytrac.com.
