Foreclosures in RI Fall 25.2% from This Time Last Year
Thursday, August 12, 2010
The number of foreclosure notices in Rhode Island last month dropped 25.2% from July 2009, according to RealtyTrac Inc.
According to the California-based real estate tracking firm, 378 Rhode Island properties (or, one in every 1,195 homes) received a foreclosure notice this July. The state's foreclosure rate is ranked the 36th highest in the 50 states.
However, RealtyTrac also said that the number of notices filed in Rhode Island in July increased 15.6% compared to the previous month.
But how does this compare to the national average? The Ocean State seems to be faring a bit better. RealtyTrac said one in every 397 homes received a foreclosure notice in July, compared to Rhode Island's one in 1,195.
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