NEW YORK, Feb. 22 /PRNewswire/ -- California (one in every 165 households).

Rumblings from mortgage professionals expose that many homeowners are on the brink of foreclosure as their property values have fallen amid the housing market collapse, exacerbating the effort to refinance loans for mortgages with negative equity. And as unemployment continues to plague the nation, the available buyers are also fewer, compounding the problem.

Some cities are expectedly more severely affected than others by the unemployment situation and the negative equity situation. Data shows the number of foreclosures and the percent change from December '09 to January to be:

    City and State    Foreclosures   Change
    Las Vegas, NV         2437        4.01%
    Denver, CO            2170        2.21%
    Aurora, CO            1491        3.61%
    Chicago, IL           1293       -5.75%
    Phoenix, AZ           1222      -22.60%
    Atlanta, GA           1117       -6.37%
    Memphis, TN           1063       10.61%
    Cleveland, OH          913       -7.30%
    Houston, TX            865       11.90%
    Columbus, OH           848       -0.58%
    Detroit, MI            711       -2.33%
    Miami, FL              571      -14.13%
    San Antonio, TX        519      +12.09%
    Los Angeles, CA        419      -12.34%

Two cities of note are Riverside, CA, which recorded a decrease of over 27% with 224 homes in foreclosure; a substantial drop in foreclosures, and Phoenix, AZ, which recorded a decrease of over 22% with 1,222 homes in foreclosure; also a substantial decrease in foreclosures.

The data also showed the average foreclosure price for homes in each U.S. state:

    Top States of Foreclosures
    State      January      Change
    CA         $378,820     +0.81%
    FL         $226,060     -0.21%
    MI         $121,530      +3.8%
    TX         $138,102    -10.71%
    GA         $521,138    +43.23%

For those buyers ready to take advantage of the foreclosure market and reduced prices of homes, data shows the lowest average price and the highest average price of homes in foreclosure:

    Lowest home price average
    IN                  $72,467
    OH                  $76,226
    OK                  $76,657

    Highest home price average
    GA                  $746,400
    MA                  $588,412
    AK                  $560,642
    DC                  $475,518
    CA                  $381,870

Although some people may mention that the market may have shown signs of stabilizing, industry experts are cautious about the figures after only one month. Many people believe that 2010 will still be a challenging market and that the worst may not be behind the housing market until late 2011.

*(LOGO 72dpi: Send2Press.com/mediaboom/09-1214-FCListings_72dpi.jpg)

This release was issued on behalf of the above organization by Send2Press(R), a unit of Neotrope(R). http://www.Send2Press.com

SOURCE ForeclosureListings.com