Are Idaho foreclosure rates slowing?

Rates increased only 6 percent in December, but a real estate agent warns the problem is worse than we think

The number of foreclosures in Idaho has increased dramatically over the last year, according to statistics released Tuesday.

The monthly RealtyTrac.com survey of foreclosure activity nationwide showed that filings in Idaho jumped from 382 in January 2007 to 735 last month, an increase of 92 percent.

The total represented just a 6 percent increase over December, raising hopes that the rate of foreclosure growth in the state has begun to slow.

Ada County recorded 270 filings in January, a 44 percent spike over January a year ago but just 2 percent higher than the previous month. Canyon County’s 194 filings represented a 240 percent increase year-over-year and 10 percent above December 2007.

Overall, 1.2 of every 1,000 Idaho homes were in foreclosure, according to RealtyTrac.

Nationwide, the RealtyTrac report found 233,001 homes in some stage of foreclosure last month, an 8 percent increase from the previous month and 57 percent year-over-year.

by Joe Estrella: 377-6465, IdahoStatesman.com

SHARE
Previous articleIHFA distributes $2.56 million in Continuum of Care grants statewide to help homeless
Next articleProperty Tax Reduction (Circuit Breaker) Deadline is April 15