CSBJ Daily

RealtyTrac today released its February 2008 U.S. Foreclosure Market Report, which shows foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on 223,651 properties nationwide during the month.

That’s a 4 percent decrease from the previous month but still a nearly 60 percent increase from February 2007.

Nevada, California and Florida had the highest rates, followed by Arizona and Colorado. About 6,740 Colorado properties were subject to a foreclosure filing during February, down 1.40 percent from the previous month, but up 27 percent from a year earlier.

“The 4 percent monthly decrease this February was similar to the 6 percent monthly decrease we saw in February 2007,” said James J. Saccacio, RealtyTrac CEO. “However, the year-over-year increase of 60 percent this February was significantly higher than the 19 percent year-over-year increase in February 2007, indicating we have still not reached the peak of foreclosure activity in this cycle.”