Year-over-year, foreclosures up 65 percent
U.S. foreclosure filings rose 65 percent year-over-year in April, according to research firm RealtyTrac.
More than 243,300 properties -- one in every 519 households -- were in some stage of foreclosure, the highest monthly total since RealtyTrac began tracking the statistics in January 2005.
Although a relatively small number "of households nationwide are in foreclosure, these properties contribute to already bloated inventories of homes for sale and put downward pressure on home values,” said James Saccacio, CEO of RealtyTrac.
The April figures are up 4 percent from March, while the former foreclosure record of 239,851 was set in August 2007.
As in recent months, Nevada had the nation's highest state foreclosure rate, with one in every 146 households in some state of foreclosure in April. California posted the second highest rate, with one in every 204 households, while Arizona's foreclosure activity jumped 26 percent, placing it in the third highest spot with one in every 224 households.
California posted the highest foreclosure total in the month, followed by Florida and Ohio. Six of California's cities documented foreclosure rates that ranked in the top 10 among 230 metropolitan areas tracked.