Foreclosure Rates in Idaho Low Compared to the Nation

The term “foreclosure” is often thrown around these days.  You hear stats like “Foreclosure in Idaho increase.  The October figure represents a 157% hike from the same time last year” This Nov 30, 2007 Idaho Statesman article is technically correct however in context it’s out of whack.  Just to illustrate this if you go from one foreclosure to three you have a 300% increase.  Granted foreclosure rates have gone up but in a super heated market foreclosure rates are almost nonexistent.  So any comparison to 2005 or 2006 is an apples and oranges comparison.  The foreclosure rate in Idaho is at 1%.  Ranking Idaho 24th in the nation.  See the Relative Frequency of Foreclosure Filings graph below.

 


 

Posted by DarrinJ at 6/14/2007 4:13:00 AM
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