Other News Releases in Banking & Financial Services
22nd Annual Help the Homeless Walkathon Takes Place on the National Mall
Financial Facts Reports on Widespread Consumer Mistrust as Credit Card Transactions Drop 27%
U.S. Court of Appeals Upholds AstraZeneca AWP Settlement
Other News Releases in Surveys, Polls and Research
Rentrak Announces Box Office Numbers for Weekend of November 20, 2009
Fandango Sells a Record-Breaking 18% of 'New Moon' Opening Weekend Box Office
U.S. Census Bureau Daily Feature for Nov. 22
Journalists and Bloggers
Visit PR Newswire for Journalists for releases, photos, ProfNet experts, and customized feeds just for Media.
View and download archived video content distributed by MultiVu on The Digital Center.
See more news releases in: Banking & Financial Services, Real Estate, Surveys, Polls and Research
More Than 1.2 Million Foreclosures Reported in 2006 According to RealtyTrac(TM) U.S. Foreclosure Market Report
U.S. Foreclosure Filings Up 42 Percent From 2005
Colorado, Georgia, Nevada Post Highest Foreclosure Rates
IRVINE, Calif., Jan. 25 /PRNewswire/ -- RealtyTrac(TM)
(www.realtytrac.com), the leading online marketplace for foreclosure
properties, today released year-end data from its 2006 U.S. Foreclosure
Market Report, which shows more than 1.2 million foreclosure filings were
reported nationwide during the year, up 42 percent from 2005 and a
foreclosure rate of one foreclosure filing for every 92 U.S. households.
RealtyTrac publishes the largest and most comprehensive national
database of pre-foreclosure and foreclosure properties, with over 800,000
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.
"While foreclosures are not at historically high levels, a 42 percent
year-over-year increase is certainly noteworthy," said James J. Saccacio,
chief executive officer of RealtyTrac. "The increase in the number of
properties in foreclosure was driven partly by the general slowing of
overall housing sales, and partly by the impact of monthly mortgage
payments increasing dramatically for homeowners who held some of the
riskier types of adjustable rate and sub-prime mortgages. As more and more
of these loans re-set, we saw a surge to finish the year, with the fourth
quarter producing more foreclosure filings than any of the three previous
quarters."
The number of total foreclosure filings rose from about 885,000 in 2005
to 1,259,118 in 2006. While that is a substantial increase, it is still
within the scope of normal historical averages, according to Saccacio.
"It's true that foreclosures could have a negative impact on the
housing market if they continue to increase at this rate. And in some of
the more problematic local markets they already may be contributing to
slowing home price appreciation and a glut of homes for sale," he said.
"However, most local markets have been able to re-absorb foreclosure homes
without seeing any major damage to the local economy."
Colorado, Georgia, Nevada post highest foreclosure rates
Colorado documented the nation's highest state foreclosure rate for the
year, one foreclosure filing for every 33 households -- or 3 percent of the
state's households. The state reported a total of 54,747 foreclosure
filings during the year, an 85 percent increase from 2005 and the eighth
highest total among all the states.
Georgia and Nevada both reported one foreclosure filing for every 41
households in 2006, but Georgia edged out Nevada with a slightly higher
percentage of households in foreclosure -- 2.5 percent compared to 2.4
percent in Nevada. Georgia reported a total of 75,975 foreclosure filings
during the year, the sixth most of any state and a 67 percent
year-over-year increase. Nevada foreclosures surged in fourth quarter,
pushing the state's total for the year to 21,045 -- nearly three times the
number reported in 2005.
Other states with foreclosure rates among the nation's 10 highest
included Texas, Michigan, Indiana, Florida, Ohio, Utah and Tennessee.
Texas, California, Florida report biggest foreclosure totals
Texas reported 156,876 foreclosure filings for the year, the most of
any state and nearly 13 percent of the national total. The state
consistently reported big foreclosure numbers throughout 2006, documenting
the highest monthly total eight times, and foreclosures for the year were
up more than 14 percent from 2005. Texas' foreclosure total represented
nearly 2 percent of the state's households -- or one foreclosure filing for
every 51 households -- giving the state the nation's fourth highest state
foreclosure rate.
Rising foreclosure activity in the fourth quarter pushed California's
2006 foreclosure total to second highest among the states. The state
reported 142,429 foreclosure filings during the year, more than twice the
number reported in 2005 and accounting for more than 11 percent of the
national total. California's 2006 foreclosure rate of one foreclosure
filing for every 86 households -- or 1.2 percent of households -- ranked
14th among the states
Florida foreclosure activity remained relatively flat in 2006, up just
2 percent from 2005, but the state's foreclosure total still placed third
highest among all the states. Florida reported 124,721 foreclosure filings
during the year, a foreclosure rate of one foreclosure filing for every 59
households -- or 1.7 percent of households. The state's foreclosure rate
dropped to seventh highest in 2006 after claiming the top spot in 2005.
Other states with 2006 foreclosure totals among the nation's 10 highest
included Ohio, Michigan, Georgia, Illinois, Colorado, New York and Indiana.
Detroit, Atlanta, Indianapolis report highest metro foreclosure rates
With an average of more than 10,000 foreclosure filings in each
quarter, Detroit documented the highest annual foreclosure rate among the
nation's 100 largest metropolitan statistical areas. Foreclosure filings in
the city represented 4.9 percent of all households -- or one foreclosure
filing for every 21 households. The city's foreclosure rate was 4.5 times
the national average.
Atlanta's 2006 foreclosure total of 63,737 represented 4.4 percent of
the city's households -- second highest among the top 100 MSAs and more
than four times the national average. Consistently high foreclosure filings
throughout the year helped the Atlanta's foreclosure rate rank in the
number-two spot despite never being higher than third place in any quarter.
Indianapolis foreclosures decreased in the second, third and fourth
quarters, but the city still documented the nation's third highest metro
foreclosure rate -- with total foreclosure filings representing 4.3 percent
of all households.
Other cities with foreclosure rates among the nation's 10 highest were
Denver, Dallas, Fort Worth, Las Vegas, Memphis, Fort Lauderdale and Miami.
The RealtyTrac U.S. Foreclosure Market Report provides the total number
of homes entering some stage of foreclosure nationwide and by state in each
quarter of 2006. The total for each quarter and for the year includes
foreclosure filings for all three phases of foreclosure: Defaults -- Notice
of Default (NOD) and Lis Pendens (LIS); Auctions -- 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 Report - 2006
1 for
Rate State 2006 every YOY %
Rank Name Q1 Q2 Q3 Q4 Total %HH #HH Change
United
States 323,101 272,108 318,355 345,554 1,259,118 1.1 92 42
37 Alabama 358 914 1,215 1,861 4,348 0.2 452 1
26 Alaska 273 219 291 284 1,067 0.5 192 -24
12 Arizona 6,232 5,818 7,505 8,331 27,886 1.3 79 4
16 Arkansas 3,706 2,383 2,696 2,533 11,318 1.0 104 -2
14 California 29,537 27,606 37,317 47,969 142,429 1.2 86 131
1 Colorado 13,267 11,599 14,374 15,507 54,747 3.0 33 85
17 Connecticut 2,503 3,159 2,634 3,436 11,732 0.8 118 6
43 Delaware 80 106 140 114 440 0.1 780 36
District
of Columbia 27 33 23 30 113 0.0 2,432 -30
7 Florida 29,636 25,853 40,136 29,096 124,721 1.7 59 2
2 Georgia 24,419 15,309 15,841 20,406 75,975 2.5 41 67
42 Hawaii 134 199 158 182 673 0.1 684 -79
27 Idaho 760 528 675 545 2,508 0.5 210 -9
11 Illinois 13,691 18,690 19,358 20,716 72,455 1.5 67 55
6 Indiana 15,261 10,775 10,836 10,678 47,550 1.9 53 56
35 Iowa 978 526 564 1,377 3,445 0.3 358 64
31 Kansas 600 1,220 1,113 1,186 4,119 0.4 274 116
29 Kentucky 1,423 1,475 2,310 1,915 7,123 0.4 246 43
40 Louisiana 341 375 957 1,241 2,914 0.2 646 -24
48 Maine 43 24 74 56 197 0.0 3,309 42
38 Maryland 1,081 1,153 1,285 1,003 4,522 0.2 474 -12
25 Massachusetts 972 2,335 4,270 8,310 15,887 0.6 165 226*
5 Michigan 22,742 15,188 20,777 22,212 80,919 1.9 52 127
34 Minnesota 1,131 1,355 1,591 1,918 5,995 0.3 345 167
46 Mississippi 237 154 246 405 1,042 0.1 1,218 -45
20 Missouri 5,014 3,372 4,029 5,284 17,699 0.7 138 53
36 Montana 317 198 229 322 1,066 0.3 387 18
28 Nebraska 740 368 951 975 3,034 0.4 237 47
3 Nevada 5,037 3,499 5,561 6,948 21,045 2.4 41 172
49 New Hampshire 26 34 47 40 147 0.0 3,721 -2
13 New Jersey 10,460 6,745 8,938 13,877 40,020 1.2 83 14
22 New Mexico 1,836 1,776 756 896 5,264 0.7 148 -28
21 New York 13,794 12,733 11,643 13,876 52,046 0.7 148 40
24 North
Carolina 7,664 4,862 5,420 4,530 22,476 0.6 157 41
47 North Dakota 65 34 35 43 177 0.1 1,637 7
8 Ohio 22,860 16,041 19,748 22,868 81,517 1.7 59 64
15 Oklahoma 4,727 3,669 4,178 3,012 15,586 1.0 96 15
23 Oregon 2,025 3,952 1,764 1,832 9,573 0.7 152 40
19 Pennsylvania 12,255 7,532 8,943 9,603 38,333 0.7 137 34
33 Rhode Island 9 327 551 390 1,277 0.3 344 3,015*
30 South
Carolina 2,552 1,830 1,252 1,321 6,955 0.4 252 -9
45 South
Dakota 76 71 80 63 290 0.1 1,115 47
10 Tennessee 11,718 7,459 7,502 10,117 36,796 1.5 67 33
4 Texas 40,236 39,690 39,363 37,587 156,876 1.9 51 14
9 Utah 3,559 3,487 3,289 2,707 13,042 1.7 59 13
50 Vermont 21 15 6 3 45 0.0 6,542 -25
41 Virginia 1,038 870 1,311 1,131 4,350 0.2 664 49
18 Washington 5,399 4,589 4,243 4,296 18,527 0.8 129 25
44 West Virginia 229 197 208 237 871 0.1 970 -15
32 Wisconsin 1,951 1,676 1,796 2,149 7,572 0.3 304 48
39 Wyoming 61 86 126 136 409 0.2 547 64
* Actual year-over-year increase may not be as high due to expanded data
coverage in this state.
Foreclosure Statistics for the Nation's 100 Largest MSAs - 2006
Rate 2006 1/every
Rank MSA Q1 Q2 Q3 Q4 Total %HH #HH
1 DETROIT/LIVONIA/
DEARBORN 11,782 7,270 10,316 10,851 40,219 4.9 21
2 ATLANTA/SANDY
SPRINGS/MARIETTA 20,491 12,977 13,562 16,707 63,737 4.4 23
3 INDIANAPOLIS 9,628 6,547 6,383 5,040 27,598 4.3 23
4 DENVER/AURORA 9,241 7,534 9,825 10,812 37,412 4.2 24
5 DALLAS 14,180 12,209 13,422 11,919 51,730 3.9 26
6 FORT WORTH/ARLINGTON 6,557 6,023 6,854 6,191 25,625 3.7 27
7 LAS VEGAS/PARADISE 4,785 3,283 5,215 6,295 19,578 3.3 31
8 MEMPHIS 5,573 3,849 3,929 4,804 18,155 3.2 31
9 FORT LAUDERDALE 3,641 4,520 8,431 4,521 21,113 2.8 35
10 MIAMI 4,485 4,757 9,380 5,424 24,046 2.8 35
11 STOCKTON 1,202 1,228 1,050 1,673 5,153 2.7 37
12 SAN ANTONIO 4,119 3,298 3,788 3,549 14,754 2.7 37
13 RIVERSIDE/
SAN BERNARDINO 6,082 5,119 8,183 10,871 30,255 2.6 39
14 CLEVELAND/LORAIN/
ELYRIA/MENTOR 5,261 4,684 5,781 7,250 22,976 2.5 40
15 DAYTON 2,329 1,409 2,205 2,550 8,493 2.3 43
16 AUSTIN/ROUND ROCK 3,268 3,504 2,378 2,363 11,513 2.3 43
16 AKRON 2,486 1,341 1,584 1,343 6,754 2.3 43
18 HOUSTON/BAYTOWN/
SUGARLAND 8,780 12,043 10,184 10,756 41,763 2.3 43
19 COLUMBUS 4,602 3,087 4,128 3,358 15,175 2.2 45
20 JACKSONVILLE 3,579 2,434 2,516 1,454 9,983 2.1 48
21 LAKE/KENOSHA 880 1,245 1,264 1,337 4,726 2.1 48
22 CHICAGO 9,035 15,567 16,155 16,949 57,706 2.0 50
23 PALM BEACH 2,675 2,642 3,643 1,954 10,914 2.0 51
24 SALT LAKE CITY 1,942 1,701 1,672 1,299 6,614 1.9 52
25 CAMDEN 947 586 1,359 1,899 4,791 1.8 54
26 ORLANDO 3,602 2,923 2,882 2,864 12,271 1.8 54
27 LITTLE ROCK/
NORTH LITTLE ROCK 1,497 1,050 1,177 1,015 4,739 1.8 55
28 WARREN/
FARMINGTON HILLS/
TROY 4,793 3,085 4,211 4,787 16,876 1.7 58
29 OKLAHOMA CITY 2,381 1,877 2,120 1,726 8,104 1.7 58
30 TOLEDO 1,380 951 854 1,593 4,778 1.7 60
31 TAMPA/ST PETERSBURG/
CLEARWATER 4,728 3,654 5,542 4,741 18,665 1.6 61
32 SACRAMENTO 2,434 3,022 2,509 2,672 10,637 1.6 61
33 TULSA 1,698 1,550 1,516 1,103 5,867 1.6 62
34 PHOENIX/MESA 4,306 4,054 5,492 6,288 20,140 1.5 66
35 CHARLOTTE/GASTONIA 2,754 1,746 2,190 1,508 8,198 1.5 67
36 ALBUQUERQUE 1,661 1,584 602 738 4,585 1.5 67
37 SUFFOLK/NASSAU 4,502 3,792 2,973 3,017 14,284 1.5 69
38 OAKLAND 1,956 2,598 3,532 4,194 12,280 1.4 73
39 FRESNO 503 736 973 1,461 3,673 1.4 74
40 TACOMA 1,054 786 843 1,004 3,687 1.3 75
41 NEWARK 2,989 1,671 2,456 3,441 10,557 1.3 77
42 BAKERSFIELD 530 386 768 1,280 2,964 1.3 78
43 SAN DIEGO 2,806 2,596 4,069 3,779 13,250 1.3 79
44 GARY 974 649 890 741 3,254 1.2 81
45 EL PASO 775 670 608 709 2,762 1.2 81
46 TUCSON 1,199 986 1,143 1,156 4,484 1.2 82
47 PHILADELPHIA 5,598 3,916 4,089 5,057 18,660 1.2 84
48 EDISON 2,582 1,585 2,058 3,850 10,075 1.2 87
49 CINCINNATI 2,224 1,919 2,494 2,896 9,533 1.1 87
50 PITTSBURGH 3,982 2,476 2,944 2,802 12,204 1.1 88
51 NASHVILLE/DAVIDSON 2,086 1,141 1,115 1,848 6,190 1.1 89
52 ST LOUIS 3,840 2,434 2,838 3,434 12,546 1.1 91
52 LOUISVILLE 981 1,066 1,837 1,512 5,396 1.1 91
54 RALEIGH/CARY 1,175 815 862 646 3,498 1.1 94
55 KANSAS CITY 1,942 1,459 1,802 2,657 7,860 1.0 100
56 SARASOTA/BRADENTON/
VENICE 802 649 814 937 3,202 1.0 100
57 LOS ANGELES/
LONG BEACH 7,788 5,379 7,860 10,331 31,358 1.0 104
58 NEWHAVEN/MILFORD 724 853 720 942 3,239 1.0 105
59 WORCHESTER 172 433 823 1,351 2,779 0.9 107
60 PORTLAND/VANCOUVER/
BEAVERTON 1,116 3,766 1,037 1,039 6,958 0.9 114
61 SPRINGFIELD 178 383 654 1,158 2,373 0.9 117
62 HARTFORD 849 1,072 845 1,182 3,948 0.8 120
63 KNOXVILLE 756 428 415 626 2,225 0.8 124
64 BRIDGEPORT/
STAMFORD/NORWALK 581 753 677 722 2,733 0.8 124
65 ORANGE 1,474 1,475 2,058 2,622 7,629 0.8 127
66 SEATTLE/BELLEVUE/
EVERETT 1,949 1,948 1,805 1,511 7,213 0.7 136
67 OMAHA/
COUNCIL BLUFFS 530 146 824 769 2,269 0.7 136
68 NEW YORK/WAYNE/
WHITE PLAINS 7,695 7,406 6,467 8,808 30,376 0.7 140
69 MILWAUKEE/WAUKESHA/
WEST ALLIS 1,175 758 943 1,138 4,014 0.6 154
70 ROCHESTER 859 360 622 914 2,755 0.6 155
71 ESSEX 114 217 471 1,039 1,841 0.6 156
72 SAN JOSE/SUNNYVALE/
SANTA CLARA 855 845 1,014 1,091 3,805 0.6 157
73 VENTURA 366 325 415 428 1,534 0.6 164
74 BUFFALO/CHEEKTOWAGA/
TONAWANDA 453 504 1,154 868 2,979 0.6 172
75 GREENSBORO/HIGHPOINT 582 384 298 326 1,590 0.6 173
76 WICHITA 178 400 352 430 1,360 0.6 175
77 BOSTON/QUINCY 255 601 1,048 2,221 4,125 0.6 177
78 BIRMINGHAM/HOOVER 186 512 878 744 2,320 0.5 182
79 GREENVILLE 425 291 370 185 1,271 0.5 188
80 COLUMBIA 544 410 197 232 1,383 0.5 195
81 POUGHKEEPSIE/
NEWBURGH/MIDDLETOWN 198 283 257 429 1,167 0.5 196
82 CHARLESTON 529 210 160 222 1,121 0.5 208
83 MINNEAPOLIS/ST PAUL/
BLOOMINGTON 988 1,277 1,511 1,813 5,589 0.5 209
84 SCRANTON/WILKES/
BARRE/HAZLETON 321 31 525 289 1,166 0.5 217
85 CAMBRIDGE/NEWTON/
FRAMINGHAM 106 370 664 1,223 2,363 0.4 244
86 SAN FRANCISCO 484 619 743 703 2,549 0.4 279
87 SYRACUSE 178 279 206 265 928 0.3 300
88 PROVIDENCE/NEW BEDFORD 9 327 551 390 1,277 0.3 344
89 WASHINGTON/ARLINGTON/
ALEXANDRIA 878 915 1,435 1,025 4,253 0.3 354
90 BATON ROUGE 66 79 298 315 758 0.3 362
91 WILMINGTON 180 94 186 195 655 0.3 397
92 ALLENTOWN/BETHLEHEM/
EASTON 231 144 174 128 677 0.2 427
93 MCALLEN/EDINBURG/PHARR 159 75 106 78 418 0.2 461
94 NEW ORLEANS 102 117 340 572 1,131 0.2 528
95 BALTIMORE/TOWSON 413 516 511 435 1,875 0.2 559
96 ALBANY/SCHENECTADY/
TROY 84 224 163 111 582 0.2 625
97 NORFOLK/VIRGINIA
BEACH/NEWPORT NEWS 192 191 227 243 853 0.2 645
98 HONOLULU 78 145 103 108 434 0.1 728
99 RICHMOND 147 110 114 105 476 0.1 928
100 BETHESDA/FREDERICK/
GAITHERSBURG 124 71 74 48 317 0.1 1,285
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 construction properties, 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 more information, visit www.realtytrac.com.
SOURCE RealtyTrac Inc.