Utah Foreclosures Increasing

New Foreclosures in Cache County According to Realty TrackForeclosure 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.

via Utah Ranked 5th Nationally in Foreclosures « Utah Homes for Sale – Real Estate Market Conditions.

The Good News is that Foreclosures in Cache County are not as high as those in Box Elder County, Weber county, Davis County, Summit County, Tooele County, Utah County, Iron County, Washington County or Uintah County Utah.

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