Foreclosures in Kentucky Down in January

According to a report issued by Realtytrac, foreclosures dropped 23.9 percent in Kentucky from December to January,  RealtyTrac is national firm based in California that specializes in tracking foreclosures. 

Kentucky's January foreclosure rate for January 2009 was still 17.3 percent above its foreclosure rate for January 2008, despite a temporary moratorium on foreclosures instituted by Fannie Mae and Freddie Mac for January.

Nationally, Kentucky still ranks well below average in numbers of foreclosures with one out of every 2,841 household involved in a foreclosure versus a national rate of one in every 466 households falling into foreclosure. According to the RealtyTrac report, Kentucky ranked 40th in the nation in percentage of households in foreclosure, which has remained relatively unchanged over the past year. The RealtyTrac report did not contain specific numbers for real estate Lexington, KY.

Nationwide, foreclosure filings were down 9.6 percent from December 2008 to January 2009, but were up 17.8 percent from a year earlier, RealtyTrac said.

For more information about the Kentucky real estate market or to search theLexington, KY MLS, visit my website at www.LexingtonRealEstateSource.com.