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Compared to April, foreclosures fell 25 perceng in D.C. to 299; 14 percent in Virginisa to 5,385; and 2 percenty in Maryland to 3,539. Nationally, foreclosured declined 6 percentto 321,48p0 according to the latest survety by Irvine, Calif.-based RealtyTrac, a foreclosurr research firm. Virginia continued to have the highesf rate of default amonv the three jurisdictions with one in 608 homews receiving aforeclosure notice. Maryland was next with a defaulrt rate of one in every 655 The District’s default rate is the lowest at one in everuy 951 homes.
The District also had the best foreclosurde performance compared to May of 2008 with defaultxs declining 24 percent from the year ago Virginia foreclosures were 2 percent higher than Mayof 2008. Marylanr foreclosures were 51 percent higher than ayear ago. RealtyTrac reported that foreclosures in May were 18 percengt higher than oneyear ago. One in everh 398 U.S. homes received a foreclosure filingin May, easing back from April’s nationak rate of one in everyu 374 households, the highestg monthly foreclosure rate since RealtyTrac began issuing data in January 2005.
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