Judicial foreclosure states have experienced prolonged foreclosure activity in response, with foreclosures in states like New York, New Jersey and Florida averaging a staggering 1, 049 days, 1, 002 days and 893 days accordingly.

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This is especially true of judicial foreclosure states.

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While so-called judicial states (where the foreclosure process goes through the courts) like New York have seen price declines, administrative states like Arizona experienced impressive comebacks, with home prices in Phoenix, for example, growing more than 22% over the 12 months to February.

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In many states, like New York for example, the delays stem from the fact that a foreclosure must go though the court system in a judicial review.

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