A RealtyTrac report issued this week showed that approximately 100,000 Michigan homes were foreclosed in 2011, a 26 percent decrease from 2010 and a 15 decrease in rate from 2009. The number put Michigan sixth in the country behind Nevada, Arizona, California, Georgia and Utah.
On a national level, December’s foreclosure rate was the lowest in more than four years and was down 34 percent overall from 2010. Although still staggering, the estimated 1.89 million homes foreclosed in 2011 is the lowest number since 2007.
Detroit’s foreclosure numbers ranked 18th among the country’s major metropolitan areas after two years of reduced foreclosure rates in the city.