Foreclosure Activity Slows

From Foreclosures decreased 2 percent in February compared to January 2010, according to RealtyTrac’s February 2010 U.S. Foreclosure Market Report. Foreclosure filings were reported on 308,524 U.S. properties during the month, still 6 percent above the level reported in February 2009.

The report shows one in every 418 U.S. housing units received a foreclosure filing in February. Nevada, Arizona, Florida post top state foreclosure rates. California’s foreclosure rate ranked fourth highest among the states, with one in every 195 housing units receiving a foreclosure filing during the month, and Michigan’s foreclosure rate ranked fifth highest among the states.

Other states with foreclosure rates among the nation’s 10 highest were Utah (one in every 275 housing units), Idaho (one in 296), Illinois (one in 305), Georgia (one in 331) and Maryland (one in 407).