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Foreclosure Activity Decreases 7 Percent in June According to RealtyTrac(TM) U.S. Foreclosure Market Report
Foreclosure Filings Still Up 87 Percent From June 2006
IRVINE, Calif., July 12 /PRNewswire-FirstCall/ -- RealtyTrac(R)
(www.realtytrac.com), the leading online marketplace for foreclosure
properties, today released its June 2007 U.S. Foreclosure Market Report,
which shows a total of 164,644 foreclosure filings -- default notices,
auction sale notices and bank repossessions -- were reported during the
month, down 7 percent from the previous month but still up 87 percent from
June 2006. The report also shows a national foreclosure rate of one
foreclosure filing for every 704 U.S. households for the month.
RealtyTrac publishes the largest and most comprehensive national
database of foreclosure and bank-owned properties, with over 1 million
properties from nearly 2,500 counties across the country, and is the
foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The
Wall Street Journal's Real Estate Journal.
"Foreclosure activity subsided somewhat in June after hitting a
30-month high in May," said James J. Saccacio, chief executive officer of
RealtyTrac. "And the drop in activity was fairly broad, with 33 states
reporting month- over-month decreases. Still, the foreclosure rates in most
states remained substantially above last year's levels."
Nevada, California, Colorado post top foreclosure rates
With one foreclosure filing for every 175 households in June, Nevada
documented a foreclosure rate more than four times the national average and
highest among the states for the sixth month in a row. The state reported
4,722 foreclosure filings during the month, a decrease of 10 percent from
the previous month but more than three times the number reported in June
2006.
Despite a 2 percent month-over-month dip in foreclosure activity,
California registered the nation's second highest state foreclosure rate,
one foreclosure filing for every 315 households -- up from third highest
the previous month and 2.2 times the national average. The state reported
38,801 foreclosure filings during the month, the most of any state for the
sixth month in a row and more than three times the number reported in June
2006.
Colorado's foreclosure rate dropped from second highest to third
highest thanks in part to a 10 percent month-over-month decrease in
foreclosure activity in June. The state reported 5,705 foreclosure filings
during the month, a foreclosure rate of one foreclosure filing for every
317 households -- still more than twice the national average.
Other states with foreclosure rates ranking among the nation's 10
highest in June were Florida, Arizona, Ohio, Michigan, Georgia, Connecticut
and Indiana.
California, Florida, Ohio document largest foreclosure totals
Following California, Florida and Ohio registered the nation's second
and third highest state foreclosure filing totals in June. Florida reported
21,035 foreclosure filings during the month, a 3 percent decrease from the
previous month but still more than double the number reported in June 2006.
The state's foreclosure rate of one foreclosure filing for every 347
households was more than twice the national average and ranked fourth
highest among all the states.
Ohio reported 11,879 foreclosure filings in June, a 10 percent decrease
from the previous month but a 100 percent increase from June 2006. With one
foreclosure filing for every 403 households, the state's foreclosure rate
was 1.7 times the national average and ranked sixth highest among the
states.
Other states with foreclosure filing totals among the nation's 10
highest in June were Michigan, Texas, Georgia, Illinois, Arizona, Colorado
and New Jersey.
California cities continue to dominate top metro foreclosure rates
California cities reported six of the nation's top 10 metropolitan
foreclosure rates in June, and the top four spots were occupied by
California cities: Stockton, Merced, Modesto and Riverside-San Bernardino.
All of the top four cities registered foreclosure rates that were more than
five times the national average. Other California cities in the top 10 were
Vallejo-Fairfield at No. 7 and Sacramento at No. 8.
Las Vegas documented a foreclosure rate of one foreclosure filing for
every 138 households, giving it the fifth highest metro foreclosure rate.
The foreclosure rate in Greeley, Colo., one foreclosure filing for every
146 households, ranked sixth highest.
Other cities in the top 10 were Detroit at No. 9 and Miami at No. 10.
The RealtyTrac Monthly U.S. Foreclosure Market Report provides the
total number of foreclosure filings -- both nationwide and by state -- over
the preceding month. Data is also available at the individual county level.
RealtyTrac's report includes documents filed in all three phases of
foreclosure: Default - Notice of Default (NOD) and Lis Pendens (LIS);
Auction - Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and
NFS); and Real Estate Owned, or REO properties (that have been foreclosed
on and repurchased by a bank).
U.S. Foreclosure Market Statistics by State - June 2007
Rate
Rank State Name NOD NTS NFS LIS REO Total
-- U.S. 36,048 51,492 12,488 38,247 26,369 164,644
35 Alabama 2 320 0 0 314 636
37 Alaska 0 62 0 0 17 79
5 Arizona 6 1,056 3,740 20 889 5,711
16 Arkansas 24 1,095 0 0 115 1,234
2 California 27,483 7,082 0 0 4,236 38,801
3 Colorado 99 5,095 0 0 511 5,705
9 Connecticut 0 204 145 1,865 172 2,386
38 Delaware 0 75 15 6 3 99
District of 1 15 0 0 1 17
Columbia
4 Florida 0 0 3,593 16,222 1,220 21,035
8 Georgia 9 5,355 0 0 1,827 7,191
40 Hawaii 11 95 0 0 7 113
15 Idaho 167 376 0 0 13 556
14 Illinois 0 86 656 4,219 794 5,755
10 Indiana 0 1,423 599 932 1,158 4,112
34 Iowa 26 214 0 0 217 457
36 Kansas 0 197 61 83 22 363
30 Kentucky 0 289 212 103 201 805
33 Louisiana 0 418 234 17 38 707
39 Maine 27 131 0 0 13 171
18 Maryland 0 822 237 941 192 2,192
13 Mass. 0 1,294 601 1,189 33 3,117
7 Michigan 1,727 5,762 0 0 2,603 10,092
29 Minnesota 11 709 0 0 247 967
44 Mississippi 2 129 0 0 85 216
20 Missouri 277 1,123 0 0 536 1,936
45 Montana 1 66 0 0 8 75
43 Nebraska 0 88 29 7 31 155
1 Nevada 2,791 1,271 0 0 660 4,722
21 New Hampshire 1 328 0 0 100 429
11 New Jersey 0 589 132 3,875 172 4,768
41 New Mexico 0 0 7 145 26 178
26 New York 0 0 987 3,256 170 4,413
27 North 1,062 134 0 0 747 1,943
Carolina
47 North Dakota 0 0 2 3 37 42
6 Ohio 0 2,478 894 4,496 4,011 11,879
28 Oklahoma 153 415 0 0 196 764
24 Oregon 541 303 0 0 36 880
31 Pennsylvania 0 1,348 154 363 393 2,258
23 Rhode Island 65 200 0 0 19 284
42 South Carolina 0 17 112 43 224 396
49 South Dakota 0 29 3 0 2 34
12 Tennessee 696 1,892 0 0 761 3,349
17 Texas 200 5,596 0 0 2,729 8,525
19 Utah 243 342 0 0 39 624
50 Vermont 1 6 0 0 1 8
25 Virginia 389 1,055 0 0 287 1,731
22 Washington 28 1,495 0 0 103 1,626
46 West Virginia 1 144 0 0 7 152
32 Wisconsin 0 264 75 462 126 927
48 Wyoming 4 5 0 0 20 29
1 for %Change %Change from
Rate every from June 06
Rank State Name #HH May 07
-- U.S. 704 -6.53 86.68
35 Alabama 3,088 -4.50 121.60
37 Alaska 3,304 -41.04 61.22
5 Arizona 383 -3.50 168.00
16 Arkansas 951 -10.58 47.78
2 California 315 -2.16 286.81
3 Colorado 317 -9.75 54.40
9 Connecticut 581 2.49 124.67*
38 Delaware 3,465 7.61 23.75*
District of 16,167 70.00 54.55
Columbia
4 Florida 347 -3.08 144.45
8 Georgia 456 -13.30 63.80
40 Hawaii 4,076 -12.40 413.64*
15 Idaho 949 23.83 283.45
14 Illinois 849 -15.67 -2.13
10 Indiana 616 -13.52 38.36
34 Iowa 2,697 -12.12 173.65*
36 Kansas 3,116 -16.17 -3.71
30 Kentucky 2,175 10.43 124.86
33 Louisiana 2,613 38.90 419.85*
39 Maine 3,812 20.42 3320.00*
18 Maryland 979 24.12 370.39
13 Mass. 841 -27.81 165.50
7 Michigan 420 6.67 107.95
29 Minnesota 2,136 -12.96 78.08*
44 Mississippi 5,379 -1.37 300.00
20 Missouri 1,261 -29.63 103.79
45 Montana 5,502 -44.85 29.31
43 Nebraska 4,662 -41.51 50.49
1 Nevada 175 -9.80 279.58
New 1,275 8.61 4666.67*
21 Hampshire
11 New Jersey 694 21.38 66.42
41 New Mexico 4,385 -45.23 -66.85
26 New York 1,740 4.50 12.95
North 1,814 -36.61 44.68
27 Carolina
47 North Dakota 6,897 40.00 366.67
6 Ohio 403 -10.10 99.92*
28 Oklahoma 1,982 -17.67 -30.55
24 Oregon 1,651 6.67 -36.28
31 Pennsylvania 2,325 -21.95 -19.62
23 Rhode Island 1,549 7.98 146.96
South 4,428 7.90 -34.76
42 Carolina
49 South Dakota 9,506 30.77 112.50
12 Tennessee 728 -12.40 39.31
17 Texas 957 -11.69 -24.92
19 Utah 1,232 -21.51 -34.80
50 Vermont 36,798 60.00 0.00
25 Virginia 1,678 -2.20 652.61
22 Washington 1,507 -23.48 12.92
West 5,557 -1.30 100.00
46 Virginia
32 Wisconsin 2,504 -10.00 161.13
48 Wyoming 7,719 -30.95 -36.96
* Actual increase may not be as high due to expanded data coverage in
this state.
About RealtyTrac Inc.
Ranked as the third largest real estate site by MediaMetrix and No. 53
on Inc. magazine's 2006 Inc. 500 list of the nation's fastest-growing
private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading
online marketplace for foreclosure properties, providing all the resources
that home seekers, investors and real estate agents need to locate,
evaluate and buy properties below market value.
Founded in 1996, RealtyTrac publishes the largest and most
comprehensive national database of pre-foreclosure, foreclosure, For Sale
By Owner, resale and new homes, with more than 1 million properties across
the country, property reports, productivity tools and extensive
professional resources. RealtyTrac hosts nearly 3 million unique visitors
monthly and has been chosen to supply foreclosure data to MSN Real Estate,
Yahoo! Real Estate and The Wall Street Journal's Real Estate Journal. For
current news and information regarding foreclosure-related issues and
trends, visit our blog at www.ForeclosurePulse.com.
SOURCE RealtyTrac Inc.