10 States Where Homebuyers Are Saving Big On Foreclosed Homes

foreclosure reduced price

Photo: David McNew/Getty Images

198,853 properties received foreclosures filings  in March, down 17 per cent from a year ago. And many warn that a tidal wave of foreclosures coming this year.These foreclosed homes often sell at significant discounts to similar homes that weren’t foreclosed on.

In its latest foreclosure report, RealtyTrac has identified the 10 states with the highest foreclosure savings rates in March. These savings were measured by comparing average sales prices with average foreclosure sales price.

North Carolina

Foreclosure savings:
33%

Avg. foreclosure sales price:
$107,911

1 in every 1,710 housing units received a foreclosure filing in March 2012

Source: RealtyTrac

Tennessee

Foreclosure savings:
33%

Avg. foreclosure sales price:
$94,864

1 in every 1,080 housing units received a foreclosure filing in March 2012

Source: RealtyTrac

New Jersey

Foreclosure savings:
34%

Avg. foreclosure sales price:
$209,609

1 in every 1,584 housing units received a foreclosure filing in March 2012

Source: RealtyTrac

Illinois

Foreclosure savings:
35%

Avg. foreclosure sales price:
$121,387

1 in every 383 housing units received a foreclosure filing in March 2012

Source: RealtyTrac


California

Foreclosure savings:
38%

Avg. foreclosure sales price:
$233,939

1 in every 303 housing units received a foreclosure filing in March 2012

Source: RealtyTrac

Wisconsin

Foreclosure savings:
39%

Avg. foreclosure sales price:
$106,485

1 in every 578 housing units received a foreclosure filing in March 2012

Source: RealtyTrac

Oklahoma

Foreclosure savings:
40%

Avg. foreclosure sales price:
$86,187

1 in every 1,617 housing units received a foreclosure filing in March 2012

Source: RealtyTrac

Pennsylvania

Foreclosure savings:
44%

Avg. foreclosure sales price:
$88,991

1 in every 1,348 housing units received a foreclosure filing in March 2012

Source: RealtyTrac

Massachusetts

Foreclosure savings:
47%

Avg. foreclosure sales price:
$204,737

1 in every 1,298 housing units received a foreclosure filing in March 2012

Source: RealtyTrac

Louisiana

Foreclosure savings:
50%

Avg. foreclosure sales price:
$87,256

1 in every 1,217 housing units received a foreclosure filing in March 2012

Source: RealtyTrac

But which American states have the highest foreclosure rate?

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