Residential foreclosures in the state and in the southeastern Wisconsin region are still ahead of last year’s pace, according to the latest data from ForeclosuresWI.com.
"Wisconsin foreclosures have been building up to the current levels for three years," said Robert Jansen, president of ForeclosuresWI.com. "While new foreclosure filings appear to be leveling off, monthly filings remain over double what they were just five years ago. There is no doubt it will take time for these properties to get through the system."
The state had 2,701 foreclosures in October, up from 2,280 in October of 2007. Year to date the state has had 20,861 foreclosures, a 23 percent increase from the 17,013 foreclosures in 2007.
In October, there were 1,238 foreclosures in the eight county southeastern Wisconsin region, up 132 or 12 percent compared with October of 2007.
Year-to-date there have been 9,172 foreclosures in the region, up 1,493 or 19.4 percent compared to the first 10 months of 2007.
October foreclosure totals for each local county:
- Milwaukee, 731 (up from 689 in October of 2007)
- Racine, 129 (up from 86)
- Waukesha, 104 (up from 91)
- Kenosha, 101 (up from 96)
- Walworth, 61 (up from 45
- Washington, 51 (up from 34)
- Sheboygan, 44 (down from 46)
- Ozaukee, 17 (down from 19)