NATIONAL FORECLOSURES REMAIN ELEVATED IN SEPTEMBER
ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT
Foreclosures Up More Than 63
Percent From September 2005, 39 Percent Year to Date
IRVINE, Calif. – Oct. 11, 2006 – RealtyTrac™
(www.realtytrac.com), the leading
online marketplace for foreclosure properties, today released its September
2006 U.S. Foreclosure Market Report, which shows 112,210 properties nationwide
entered some stage of foreclosure during the month, a decrease of less than 1
percent from August, and a 63 percent increase from September 2005. The
report also shows a national foreclosure rate of one new foreclosure filing for
every 1,030 U.S. households, the third highest monthly foreclosure rate
reported this year.
RealtyTrac publishes the largest and most comprehensive national
database of pre-foreclosure and
foreclosure properties, with nearly 650,000 properties from more than 2,500
counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, The Wall Street Journal’s Real Estate
Journal and Knight Ridder Online.
“September was the second straight month in
which more than 110,000 new foreclosure filings were reported nationwide,
evidence that the spike in August was not just a one-month anomaly,” said James
J. Saccacio, chief executive officer of RealtyTrac. “Foreclosure filings are up
39 percent year to date and have already surpassed the total number reported in
all of 2005. If they continue at the current pace, foreclosures will exceed the
1.2 million mark by the end of the year.”
Michigan joins Colorado, Nevada in posting top
state foreclosure rates
Michigan reported 7,846 properties entering
some stage of foreclosure in September — a 14 percent increase from the
previous month and nearly three times the number reported in September 2005 —
boosting the state’s foreclosure rate to third highest among all the states.
With one new foreclosure filing for every 538 households, Michigan’s
foreclosure rate replaced Florida’s foreclosure rate among the nation’s top
three.
Despite slowing foreclosure activity in
September, Colorado and Nevada continued to document the first and second
highest state foreclosure rates respectively. Colorado reported 4,485
properties entering some stage of foreclosure, a decrease of 26 percent from
the previous month and a foreclosure rate of one new foreclosure filing for
every 408 households — 2.5 times the national average. Nevada reported 1,919
properties entering some stage of foreclosure, a decrease of nearly 5 percent
from the previous month and a foreclosure rate of one new foreclosure filing
for every 452 households — 2.3 times the national average.
Other states reporting foreclosure rates among
the nation’s 10 highest were Florida, Georgia, Indiana, Illinois, Texas, Ohio
and Utah.
California claims top spot among states with most
new foreclosure filings
Thanks to a 19 percent increase in foreclosure
activity, California leapfrogged past Texas and Florida to report the most new
foreclosure filings of any state in September. The state documented 14,806
properties entering some stage of foreclosure, nearly three times the number
reported in September 2005 and a foreclosure rate of one new foreclosure filing
for every 825 households — 1.3 times the national average. The state’s
foreclosure activity has risen more than 40 percent over the last two months.
With 12,946 properties entering some stage of
foreclosure, Florida reported the second highest number of new foreclosure
filings in September. That was a 21 percent drop from the previous month, but
still up 41 percent from September 2005. The state’s foreclosure rate of one
new foreclosure filing for every 564 households was fourth highest among the
states.
Texas reported 11,988 properties entering some
stage of foreclosure, a 16 percent decrease from the previous month but a 23
percent increase from September 2005. The state’s foreclosure rate of one new
foreclosure filing for every 671 households dropped out of the nation’s top
five but was still 1.5 times the national average.
Michigan, Illinois, Ohio, Georgia, Colorado, Indiana
and New York rounded out the 10 states with the most new foreclosure filings in
September.
Highest metro foreclosure rates in Colorado,
Michigan and Florida
For the second month in a row, Greeley, Colo.,
posted the highest foreclosure rate among the nation’s 252 largest metropolitan
areas. The Greeley metro area (Weld County) documented 393 properties entering
some stage of foreclosure, a foreclosure rate of one new foreclosure filing for
every 168 households — more than six times the national average.
With 4,190 properties entering some stage of
foreclosure, the Detroit metropolitan area (Wayne County) registered the
nation’s second highest metro foreclosure rate — one new foreclosure filing for
every 197 households.
Miami’s foreclosure rate of one new
foreclosure filing for every 271 households ranked as the nation’s third
highest metro foreclosure rate. The metro area (Miami-Dade County) reported
3,147 properties entering some stage of foreclosure in September.
The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total
number of homes entering some stage of foreclosure nationwide and by state over
the preceding month. Data is also available at the individual county level.
RealtyTrac’s report includes properties in 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 Statistics by State – Sept 2006
| Rate Rank | State Name | NODs | NTSs | NFSs | LISs | REOs | Total | 1 for every #HH | %Change from Aug 2006 | %Change from Sep 2005 |
|---|---|---|---|---|---|---|---|---|---|---|
-- |
United States | 25,379 |
43,840 |
6,285 |
19,338 |
18,179 |
112,210 |
1,030 |
-0.96 |
63.50 |
32 |
Alabama | 0 |
297 |
0 |
0 |
232 |
529 |
3,712 |
39.58 |
195.53 |
22 |
Alaska | 9 |
98 |
0 |
0 |
12 |
118 |
1,739 |
31.11 |
40.48 |
11 |
Arizona | 0 |
0 |
2,493 |
306 |
103 |
2,902 |
754 |
12.79 |
39.65 |
18 |
Arkansas | 24 |
997 |
0 |
0 |
100 |
1,121 |
1,046 |
29.00 |
18.50 |
12 |
California | 12,317 |
2,023 |
0 |
0 |
485 |
14,806 |
825 |
18.58 |
196.48 |
1 |
Colorado | 75 |
3,228 |
0 |
0 |
1,182 |
4,485 |
408 |
-26.22 |
24.51 |
15 |
Connecticut | 1,226 |
157 |
0 |
0 |
2 |
1,385 |
1,000 |
556.40 |
4846.43 |
43 |
Delaware | 4 |
28 |
0 |
0 |
4 |
36 |
9,530 |
2.86 |
260.00 |
48 |
DC | 0 |
0 |
0 |
0 |
11 |
11 |
24,986 |
22.22 |
-8.33 |
4 |
Florida | 0 |
0 |
1,609 |
11,050 |
390 |
12,946 |
564 |
-21.22 |
40.98 |
5 |
Georgia | 5 |
4,136 |
0 |
0 |
1,026 |
5,167 |
599 |
-13.41 |
31.71 |
42 |
Hawaii | 18 |
43 |
0 |
0 |
2 |
63 |
7,310 |
50.00 |
-35.71 |
29 |
Idaho | 10 |
185 |
0 |
0 |
7 |
202 |
2,603 |
-16.18 |
18.13 |
7 |
Illinois | 0 |
0 |
979 |
5,881 |
1,069 |
7,431 |
658 |
7.56 |
86.85 |
6 |
Indiana | 1,578 |
1,764 |
0 |
0 |
704 |
3,968 |
636 |
12.00 |
61.43 |
40 |
Iowa | 23 |
41 |
0 |
0 |
141 |
176 |
7,003 |
-22.12 |
27.54 |
30 |
Kansas | 105 |
211 |
0 |
0 |
5 |
321 |
3,514 |
-16.41 |
221.00 |
24 |
Kentucky | 300 |
400 |
0 |
0 |
192 |
892 |
1,963 |
1.36 |
430.95 |
39 |
Louisiana | 30 |
166 |
0 |
0 |
151 |
347 |
5,427 |
9.46 |
73.50 |
49 |
Maine | 4 |
13 |
0 |
0 |
2 |
19 |
34,310 |
-59.57 |
171.43 |
33 |
Maryland | 5 |
545 |
0 |
0 |
22 |
572 |
3,745 |
48.57 |
13.94 |
14 |
Mass. | 1,619 |
1,112 |
0 |
0 |
8 |
2,739 |
957 |
373.06 |
14315.79 |
3 |
Michigan | 163 |
4,569 |
0 |
0 |
3,117 |
7,846 |
538 |
14.36 |
199.24 |
34 |
Minnesota | 18 |
393 |
0 |
0 |
122 |
533 |
3,880 |
-15.53 |
252.98 |
45 |
Mississippi | 4 |
46 |
0 |
0 |
29 |
79 |
16,061 |
-1.25 |
-15.05 |
23 |
Missouri | 25 |
522 |
0 |
0 |
877 |
1,385 |
1,760 |
4.61 |
47.18 |
35 |
Montana | 2 |
96 |
0 |
0 |
6 |
104 |
3,962 |
79.31 |
-7.96 |
19 |
Nebraska | 5 |
373 |
0 |
0 |
139 |
516 |
1,393 |
66.45 |
47.43 |
2 |
Nevada | 1,482 |
351 |
0 |
0 |
86 |
1,919 |
452 |
-4.81 |
237.26 |
50 |
New Hampshire | 0 |
11 |
0 |
0 |
6 |
14 |
39,073 |
-17.65 |
600.00 |
16 |
New Jersey | 2,473 |
589 |
0 |
0 |
159 |
3,221 |
1,028 |
7.65 |
30.88 |
31 |
New Mexico | 129 |
60 |
0 |
0 |
25 |
214 |
3,648 |
-37.24 |
-28.67 |
26 |
New York | 0 |
0 |
1,204 |
2,101 |
319 |
3,622 |
2,120 |
-20.17 |
45.29 |
25 |
North Carolina | 549 |
99 |
0 |
0 |
1,017 |
1,665 |
2,114 |
-19.21 |
83.17 |
47 |
North Dakota | 3 |
1 |
0 |
0 |
10 |
14 |
20,691 |
40.00 |
100.00 |
9 |
Ohio | 95 |
3,390 |
0 |
0 |
3,309 |
6,794 |
704 |
-9.03 |
17.16 |
17 |
Oklahoma | 465 |
487 |
0 |
0 |
479 |
1,430 |
1,045 |
3.77 |
45.47 |
28 |
Oregon | 148 |
456 |
0 |
0 |
31 |
635 |
2,293 |
20.72 |
11.40 |
21 |
Pennsylvania | 1,120 |
1,767 |
0 |
0 |
245 |
3,125 |
1,680 |
9.92 |
31.36 |
27 |
Rhode Island | 0 |
204 |
0 |
0 |
0 |
204 |
2,156 |
45.71 |
20300.00 |
38 |
South Carolina | 19 |
92 |
0 |
0 |
264 |
368 |
4,763 |
-17.30 |
8.55 |
44 |
South Dakota | 1 |
20 |
0 |
0 |
0 |
21 |
15,391 |
-44.74 |
23.53 |
13 |
Tennessee | 273 |
1,575 |
0 |
0 |
914 |
2,757 |
889 |
16.23 |
28.05 |
8 |
Texas | 274 |
10,856 |
0 |
0 |
873 |
11,988 |
671 |
-16.00 |
23.13 |
10 |
Utah | 444 |
588 |
0 |
0 |
45 |
1,077 |
714 |
2.87 |
17.07 |
51 |
Vermont | 1 |
1 |
0 |
0 |
0 |
2 |
147,191 |
0.00 |
0.00 |
41 |
Virginia | 2 |
314 |
0 |
0 |
84 |
400 |
7,216 |
-5.88 |
76.99 |
20 |
Washington | 27 |
1,326 |
0 |
0 |
88 |
1,441 |
1,660 |
-10.66 |
46.29 |
46 |
West Virginia | 2 |
46 |
0 |
0 |
3 |
51 |
16,561 |
-3.77 |
-50.00 |
37 |
Wisconsin | 303 |
138 |
0 |
0 |
57 |
498 |
4,624 |
-31.12 |
-2.35 |
36 |
Wyoming | 0 |
26 |
0 |
0 |
25 |
51 |
4,389 |
54.55 |
131.82 |
-- |
United States | 25,379 |
43,840 |
6,285 |
19,338 |
18,179 |
112,210 |
1,030 |
-0.96 |
63.50 |
| Rate Rank | State Name | NODs | NTSs | NFSs | LISs | REOs | Total | 1 for every #HH | %Change from Aug 2006 | %Change from Sep 2005 |
U.S. Foreclosure Rates Heat Map – Sept 2006
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.
###
Media Contact:
Michelle Sabolich
Atomic Public Relations
415-402-0230