RealtyTrac just released its monthly report  covering January foreclosure activity.
- 10% decrease in overall activity from the December surge
- 15 percent above the level reported in January 2009
“January foreclosure numbers are exhibiting a pattern very similar to a year ago: a double-digit percentage jump in December foreclosure activity followed by a 10 percent drop in January,” said James J. Saccacio, chief executive officer of RealtyTrac “If history repeats itself we will see a surge in the numbers over the next few months as lenders foreclose on delinquent loans where neither the existing loan modification programs or the new short sale and deed-in-lieu of foreclosure alternatives works.”
The Sand States  remain true to form (Nevada, Arizona, California, Florida)
Nevada’s foreclosure rate remained highest among the states for the 37th straight month. One in every 95 Nevada housing units received a foreclosure filing during the month — more than four times the national average.
- Arizona’s foreclosure rate to second highest among the states in January. One in every 129 Arizona housing units received a foreclosure filing during the month.
- Foreclosure activity decreased by double-digit percentages from the previous month in both California and Florida, and the two states registered nearly identical foreclosure rates — one in every 187 housing units receiving a foreclosure filing.
Six states account for nearly 60 percent of national total
- Phoenix only top 10 metro area to post monthly foreclosure increase
In other words, the foreclosure rush in December to file by end of year, then subsequent lull in January do not suggest that the foreclosure problem is improving if seasonality has anything to say about it.