1 in 5 Homes Upside Down

This is just a quick numbers update for you from the Bloomberg Business Week Report on the current state of the housing market in the United States. I could spend a lot of time analyzing them but the numbers pretty much speak for themselves. This is a little more exacerbated in areas like the Temecula Valley where most "Standard" sales (meaning homes that still have equity in them) are being sold in the higher price range rather than in normal tract homes.

More than a fifth of U.S. homeowners owed more than their properties were worth in the fourth quarter.

More than 1 in 1,000 homes were repossessed by lenders in December.

There were 2.82 million foreclosures in the U.S. last year, according to RealtyTrac Inc..

Bank sales of foreclosed properties accounted for a fifth of all U.S. home sales in December.

Almost 29% of homes sold in the U.S. went for less than their sellers originally paid for them.

You can read the full article on Business Week here.