As of December 2011, Oklahoma sports the highest foreclosure savings rate, according to a Business Insider story based on RealtyTrac data. The average foreclosure sales price in that state is just under $75,000, an average savings of 50 percent. Virginia rounds out the top 10 with a 37 percent savings rate.
The savings are linked to a 9 percent nationwide decrease in total foreclosures in December. This in turn led to sales that further depressed home prices. Savings are determined by measuring average sales prices against average foreclosure sales prices. It is estimated that 1 in every 1,052 housing units in the state received a foreclosure filing in December.
To see the rest of the RealtyTrac data, click here.
Advertisement
Related Stories
Single-Family Homes
What Does It Cost to Build a Single-Family Home?
A closer look at the itemized costs in each stage of construction for a single-family home
Builders
A Look at the Boom in Home Builder Stocks During 2023
In 2023, stocks for the 10 biggest U.S. home builders outperformed the S&P 500. What does that say about the housing market?
Financials
Housing Demand Could Rebound in 2024 as Mortgage Rates Ease
The Mortgage Bankers Association predicts lower mortgage rates could bring homebuyers back into the market in 2024
