Foreclosure data specialist RealtyTrac provided its report on monthly foreclosure activity today. In November, 306,627 homeowners filed for foreclosure. The good news is that's 8% fewer than in October. But November's number was still up 18% versus a year earlier. This appears to indicate that the short-term data is trending in a good direction, but state-level results are more mixed.
Even though Nevada remains the worst state for foreclosure rate, its data is trending in a very positive direction. It had 32.9% fewer foreclosures in November than October, and 33.4% fewer compared to a year earlier. That latter statistic is actually the second most positive year-over-year decline in foreclosures among all states, so Nevada may be on the mend.
California is also trending in a good direction compared to October, with 13.4% fewer foreclosures. But it's year-over-year number isn't faring as well, with 22.3% more foreclosures than in November 2008.
Less positive news comes out of Florida and Arizona. Florida saw foreclosures increase by 2.0% from October to November and 7.6% year-over-year. Arizona was even worse, with a 7.5% monthly increase and a 9.2% increase compared to a year ago. In those markets, the foreclosure crisis continues to worsen.
Overall, 38 states saw fewer foreclosures in November than in October, but only 12 saw fewer foreclosures compared to a year ago.