Foreclosures jump in 2007
The number of foreclosures in the U.S. rose sky-high in 2007, according to online realty company RealtyTrac.

There were 2,203,295 foreclosure filings in 2007, a whopping 75% jump from the number of filings in 2006. More than 1% of all U.S. homes were in some stage of the foreclosure process in 2007, an increase from the 0.58% the year before.

In December, there were 215,749 foreclosure filings, RealtyTrac reported, a 97% surge from December 2006.

The worst states for foreclosure: Nevada, with 3.4% of its homes in some stage of foreclosure last year, and Florida, with 2% of its homes in the foreclosure process.

California saw the highest number of foreclosures, with 481,392 filings on 249,513 properties in 2007.

This news follows a report Monday from the Commerce Department that showed a 4.7% decline in new-home sales in December and a 10.4% drop in the median price of a new home to $219,200.