Foreclosures nearly halved in Utah, but some counties still struggle
Rick Bowmer, AP
Foreclosures in Utah have dropped by nearly half last month compared to 2011, but some counties are still experiencing high rates, according to data from RealtyTrac Inc.
In August, one in every just over 900 homes was in foreclosure in the Beehive State. The state ranked 16th in the nation, with 11 percent of its home in foreclosure.
In the nation, 15 percent of homes were in foreclosure in August.
Foreclosures in Utah dropped 49.2 percent in August to 1,076 since last year.
Though foreclosures are dropping in the state, some counties are still burdened by high rates.
Foreclosures in Iron County dropped 27.3 percent to 40 homes. However, 20 percent of homes in the county are in foreclosure, making it the highest in the state.
In Iron County, one in every 492 homes was foreclosed upon.
Experts are hopeful in the county as the nation recovers from the housing crisis.
“I am definitely seeing improvement in the real estate market in Iron County,” said Janet Naisbitt-Bagley, associate broker at ERA Real Estate in Cedar City, in a phone interview. “If your inventory is dropping, your number of buyers is increasing and the prices and interest rates are good, then obviously it’s supply and demand.”
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