Home foreclosures increase 94%

Home foreclosures rose a staggering 94% in the United States in October compared with one year earlier according to real estate data firm RealtyTrac.

"Home foreclosure filings in October edged up 2 percent from September but at 224,451 were a whopping 94 percent higher than a year earlier, real estate data firm RealtyTrac said on Thursday.

The figure, a sum of default notices, auction sale notices and bank repossessions, was down from a 32-month peak in August however, RealtyTrac, an online market of foreclosure of properties, said in its monthly foreclosure market report.

RealtyTrac said the national foreclosure rate was one filing for every 555 U.S. households in October."

Nevada, previously the hottest real estate market, now leads the nation in foreclosures. California ranks 2nd in foreclosures according to the report.

Florida, Ohio, Georgia, Michigan, Colorado, Arizona, Indiana and Illinois round out the top 10.

Read the whole story on Reuters.