The number of new properties in foreclosure decreased 2.5% nationwide in May, with 62,432 compared to 64,057 in April, according to a survey conducted by RealtyTrac, a provider of property foreclosure and pre-foreclosure. "The number of new foreclosures reported in New Mexico skyrocketed in May, giving it the highest foreclosure rate among the 50 states -- one property in foreclosure for every 554 households," the study found. "This was more than three times the national rate of one foreclosure for every 1,853 households," RealtyTrac stated in a release.

 

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.