The Peach State ranked eighth-worst for foreclosures in April, though the number of foreclosures dropped significantly, RealtyTrac reported Thursday.
Georgia had 8,479 foreclosures in April, down 35 percent from March and down 39.3 percent from April 2010.
RealtyTrac defines a foreclosure as default notices, scheduled auctions and bank repossessions.
There were 219,258 foreclosures across the nation in April -- a 9 percent decrease from March and a a 34 percent decrease from April 2010.
James J. Saccacio, CEO of RealtyTrac:
“Foreclosure activity decreased on an annual basis for the seventh straight month in April, bringing foreclosure activity to a 40-month low. This slowdown continues to be largely the result of massive delays in processing foreclosures rather than the result of a housing recovery that is lifting people out of foreclosure.Source: Atlanta Business Chronicle