Foreclosures/REOs Comprise Nearly 20 Percent of US Inventory

RealtyTrac just released a report which shows that nearly 1 in 5 homes on the market in the US are foreclosures/bank-owned. The report also states that US foreclosure filings are up 8 percent from June to July and up 55 percent from a year ago.

The worst hit states are California, Nevada, Florida and Ohio. California happens to have 3 of the 4 metropolitan areas with the highest rate of foreclosure-related filings.

Here's a heat map showing the level of foreclosure activity across the US (click on image to enlarge):

Photo credit: RealtyTrac