The 10 States That Got Crushed By Foreclosures In 2010

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Photo: AP

Heading into 2011, the threat of a double-dip in housing looms large, and it’s spurred on by a continuation in the foreclosure story that dominated 2011.Home owners defaulted at a rapid pace in 2010, and now the weight of these foreclosures is being felt by the country’s banks.

But just how bad did it get across the country? And what does this mean for foreclosures in the year ahead?

We have the states ranked per capita foreclosure with data from RealtyTrac here.

# 10 Colorado: Shows Signs Of Slowing

2010 Foreclosures: 54,041

Q4 2010 Foreclosures: 15,720

Will it improve: Colorado's unemployment rate of 8.6 per cent is higher than any of its neighbouring states. It is hard to say if 2011 will see a turn around. Foreclosures are up 6.98 per cent from 2009, but still less than that years increase of 7.23 per cent over 2008.

Sources: RealtyTrac and BLS

# 9 Illinois: Foreclosures Up, But Slowing

2010 Foreclosures: 151,304

Q4 2010 Foreclosures: 41,583

Will it improve: Illinois unemployment rate of 9.6 per cent is right in the middle of its four neighbouring states -- from Iowa with 6.6 to Kentucky with 10.2. Foreclosures are up 15.38 per cent from 2009, but still less than that years increase of 52.08 per cent over 2008.

Sources: RealtyTrac and BLS

# 8 Idaho: Foreclosures Up From 2009

2010 Foreclosures: 19,088

Q4 2010 Foreclosures: 5,644

Will it improve: Idaho's unemployment rate of 9.4 per cent is in the middle of its five neighbouring states -- from Montana with 7.2 to Nevada with 14.23. Foreclosures are up 15.38 per cent from 2009, but still less than that years increase of 52.08 per cent over 2008.

Sources: RealtyTrac and BLS

# 7 Michigan: Foreclosures Nearly Half 2008 Numbers

2010 Foreclosures: 135,874

Q4 2010 Foreclosures: 41,539

Will it improve: Despite the projected addition of 41,000 jobs in 2011, Michigan's unemployment rate of 12.4 per cent, the second highest in the nation, is expected to remain high throughout the year. Foreclosures are up 14.85 per cent from 2009, but still less than that years increase of 28.11 per cent over 2008.

Sources: RealtyTrac and BLS

# 6 Georgia: Foreclosures Up, But Slowing

2010 Foreclosures: 130,966

Q4 2010 Foreclosures: 38,905

Will it improve: Georgia's unemployment rate of 10.1 per cent falls right around the middle of its neighbouring states from Alabama with 9.0 per cent to Florida with 12.0. Foreclosures are up 23.42 per cent from 2009, but still less than that years increase of 53.62 per cent over 2008.

Sources: RealtyTrac and BLS

# 5 Utah: Dramatically Lower Than 2008

2010 Foreclosures: 32,520

Q4 2010 Foreclosures: 10,418

Will it improve: Compared to its six neighbouring states, Utah's unemployment rate of 7.5 per cent is higher only than Wyoming's 6.6 per cent, but far lower than Nevada's 14.3 per cent. Foreclosures are up 19.82 per cent from 2009, but still less than that years increase of 119.20 per cent over 2008. Utah is expected to see 16,500 additional jobs in 2011.

Sources: RealtyTrac and BLS

# 4 California: Foreclosures Are Down

2010 Foreclosures: 546,669

Q4 2010 Foreclosures: 174,785

Will it improve: California's unemployment rate of 12.4 per cent is second only to Nevada's 14.3 nationwide. Arizona stands at 9.4, the national average and Oregon at 10.6. The good news is that foreclosures are down -13.58 per cent from 2009, from that years increase of 4.40 per cent over 2008.

Sources: RealtyTrac and BLS

# 3 Florida: Foreclosures Down, For Now

2010 Foreclosures: 485,286

Q4 2010 Foreclosures: 110,365

Will it improve: Florida's unemployment rate of 12.0 per cent, fourth highest in the nation, is higher than its neighbouring states Alabama 9.0 per cent and Georgia 10.1 per cent. The good news is that foreclosures are down -6.08 per cent from 2009, from that years increase of 25.95 per cent over 2008. Some of this slowing is attributed to the halt, over legal concerns, on foreclosures late in 2010.

Sources: RealtyTrac and BLS

# 3 Arizona: Foreclosures Are Down

2010 Foreclosures: 155,878

Q4 2010 Foreclosures: 39,979

Will it improve: Arizona's unemployment rate of 9.4 per cent is right in the middle of its five neighbouring states from Utah's 7.5 per cent to Nevada's 14.3 per cent. Foreclosures, however, are down -4.49 per cent from 2009, from that years increase of 33.33 per cent over 2008.

Sources: RealtyTrac and BLS

# 1 Nevada: Bad, But Getting Better

2010 Foreclosures: 106,160

Q4 2010 Foreclosures: 35,780

Will it improve: Nevada's 14.3 per cent unemployment is the highest in the nation. On the upside foreclosures are down -6.89 per cent from 2009, from that years increase of 19.05 per cent over 2008.

Sources: RealtyTrac and BLS

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