Believe it or not, in Maryland the news is mixed, when it comes to foreclosures. It is not all negative. So how bad is residential real estate in Maryland? As reported today in the Baltimore Business Journal, RealtyTrac, Inc.

• One of every 774 households in Maryland was in foreclosure in October, according to an industry report released November 13, 2008.Maryland foreclosures jumped 32 percent between September and October to 2,973.
• BUT, Maryland posted a year-over-year percentage decrease, however, down 16 percent.
• Interestingly, with respect to Maryland,
  Virginia and Washington,D.C.,
  Maryland was the only jurisdiction to actually post a decrease compared with the same period a year ago.

So what about foreclosures nationwide:

• Virginia had the highest foreclosure rate in the region, with one of every 493 households in default.
• Virginia monthly increase in foreclosures in October was modest, up just 2.5 percent to 6,555.
•  D.C.  One of every 1,246 households in D.C. was in default in October 2008. D.C.’s foreclosures were up 177 percent year over year.
• Nationally. One of every 452 households were in default nationwide in October 2008. Foreclosures rose 5 percent from September and 25 percent from October 2007 to 279,561.
• Nevada had the highest foreclosure rate with one out of every 74 households in default.
• California had the highest number of foreclosures with 56,954, even as its foreclosure activity decreased. California foreclosures peaked in August at more than 100,000.

Tags: Maryland Foreclosures

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