Foreclosure numbers in Utah have increased in recent months, and it’s not in a good way. Utah now trails only Nevada, Arizona, California, and Florida as the states in percentage of default borrowers. According to RealtyTrac.com, over the last six months, 1 in every 52 Utah households received a foreclosure notice. In total there were 18,058 Utah homes that received either a notice of default, notice of trustee’s sale, or became a bank owned property.
This is an increase of 33% compared with the first six months of 2009. Foreclosure filings in California and Nevada saw saw a decrease during this time period. Only Idaho Foreclosures saw a bigger increase. If this trend continues, Utah will be even higher in total foreclosure numbers. The increased number of Utah Foreclosures will place downward pressure on Utah Home prices.