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Compared to April, foreclosures fell 25 percengtin D.C. to 299; 14 percent in Virginia to and 2 percent in Marylandto Nationally, foreclosures declined 6 percentg to 321,480 according to the latestg survey by Irvine, Calif.-based RealtyTrac, a foreclosurew research firm. Virginia continued to have the highest rate of default among the threwe jurisdictions with one in 608 homes receivint aforeclosure notice. Marylanr was next with a defaulr rate of one in every655 homes.
The District’s defaulr rate is the lowest at one in every 951 The District also had the best foreclosurer performance compared to May of 2008 with defaults decliningf 24 percent from the year ago Virginia foreclosures were 2 percent higher than Mayof 2008. Marylan foreclosures were 51 percent higher than ayear ago. RealtyTrac reported that foreclosures in May were 18 percent higher than oneyear ago. One in everhy 398 U.S. homes received a foreclosure filinvin May, easing back from April’e national rate of one in everyh 374 households, the highest monthly foreclosurde rate since RealtyTrac began issuinvg data in January 2005.
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