November marked the first time since February 2009 that the number of monthly foreclosures filings failed to surpass 300,000 units.

Foreclosures are a big part of the housing market, with distressed properties accounting for 35 percent of all home resales last month, according to the National Association of REALTORS®. But for as common as foreclosures can be, they remain a localized concern.

June marks the 16th straight month the filings topped 300,000. 1 in every 411 U.S. homes received some form of notice last month with foreclosure density varying wildly from state-to-state. Like everything else in real estate, it seems, foreclosures are a local phenomenon.

According to foreclosure-tracking firm RealtyTrac.com, bank repossessions reached record levels for the second straight month in May, topping 93,000 properties nationwide. All 50 states are up, year-over-year.