Residential real estate and investment markets continue to reverberate from foreclosure-induced shock.
Data published by ForeclosureListings.com comparing March to February shows that Florida and Georgia had a significant increase in foreclosure rates at 21.26 percent and 20.14 percent, respectively.
Michigan – one of the states hardest-hit by the recession and a leader in the number of foreclosure states – surprisingly had only a 0.44 percent rise in foreclosures for the month.
The state with the highest increase was Connecticut at 34.17 percent, while Colorado showed a drop in foreclosures between February and March of 21.47 percent. Texas continued its increase in foreclosures at a rate of 10 percent, as did California at an additional 5.48 percent.
Colorado showed that a stronger economy leads to fewer foreclosures, although the Colorado Foreclosure Hotline is still receiving a record number of calls, according to manager Stephanie Riggi.
Not all Colorado cities are faring the same.
Golden saw almost a 49 percent drop in new filings, and Littleton had a 48 percent decrease in new foreclosures.
Colorado Springs, on the other hand, saw new filings jump from 376 in February to 470 in March, according to El Paso County Public Trustee Tom Mowle.