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Compared with April, foreclosures fell 25 percent in D.C. to 299; 14 percent in Virginia to 5,385; and 2 percentr in Maryland to 3,539. foreclosures declined 6 percentto 321,48o0 ,according to the latest survey by Irvine, Calif.-based , a foreclosurer research firm. Virginia continued to have the highestf rate of default among the three with one in 608 homesa receiving aforeclosure notice. Maryland was next with a default rate of one in ever y655 homes. The District’s defaulft rate is the lowest, at one in everhy 951 homes. The District also had the best foreclosure performance comparede withMay 2008, with defaults declining 24 percengt from the year ago period.
Virginia foreclosures were 2 percen t higher than Mayof 2008. Maryland foreclosures were 51 percentr higher than ayear ago. Nationally, RealtyTra reported that foreclosures in May were 18 percent higher than oneyear ago. One in ever y 398 U.S. homes received a foreclosure filingin May, easinv back from April’s national rate of one in everyh 374 households, the highest monthly foreclosurer rate since RealtyTrac began issuing data in January 2005.
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