Foreclosure Home Housing & Foreclosure Reports California Foreclosure Activity Drops in January

California Foreclosure Activity Drops in January

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Statewide filings down 2 percent from December; Rate second highest

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 51,584 California properties in January, a 2 percent decrease from December and 23 percent below the level reported for January 2011, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

The Golden State maintained its position as the state with the second highest foreclosure rate, reporting one in every 265 California housing units with a foreclosure filing in January.

California continues to lead the nation in terms of total properties with foreclosure filings by a large margin. Second ranked Florida reported 24,783 properties with foreclosure filings during the month. Third place was Illinois, where 14,349 properties with foreclosure filings were reported. Michigan had the fourth highest total, reporting 12,808 properties with foreclosure filings while Georgia took fifth place, tallying 12,467 properties with foreclosure filings.

The remaining states that make up the nation’s top 10 in January include Texas (9,085), Arizona (8,749), Ohio (8,325), Nevada (5,931) and Indiana (5,039). The top 10 accounted for 73 percent of the nation’s total foreclosure activity for the month.

Yuba County posts top foreclosure rate in the state for January
One in every 126 housing units in Yuba County had a foreclosure filing in January — five times the national average and 2.1 times the state average — the highest foreclosure rate of all California counties for the month. San Joaquin County had the second highest rate of one in every 140 housing units with a foreclosure filing during the month — 4.5 times the national average and 1.9 times the state average. Stanislaus County had the third highest rate of one in every 143 housing units with a foreclosure filing during the month — 4.4 times the national average and 1.9 times the state average.

Southern California stays atop the foreclosure heap in January
 Five Southern California counties topped the list for highest foreclosure totals in the state for January. Los Angeles County continued to lead all counties by a large margin, reporting 10,654 properties with foreclosure filings for the month. Riverside County remained second highest, reporting 4,810 properties with foreclosure filings. San Bernardino County was third, reporting 4,351 properties with foreclosure filings. Fourth highest was San Diego County, recording 3,798 properties with foreclosure filings. Orange County was fifth highest, tallying 3,317 properties with foreclosure filings for the month.

State the nation’s largest contributor to total foreclosure activity in January
 California accounted for 24 percent of the 210,941 properties with foreclosure filings reported nationwide in January. Total U.S. activity increased by 3 percent from December, but was still down over 19 percent from the level reported in January 2011. One in every 624 U.S. housing units received a foreclosure filing during the month.

“Although overall foreclosure activity was down from a year ago for the 16th straight month in January, we continue to see signs on a local and regional level that the frozen-up foreclosure process is beginning to thaw,” said Brandon Moore, CEO of RealtyTrac. “Foreclosure activity increased on a year-over-year basis for the first time in more than 12 months in Florida, Illinois, Indiana and Pennsylvania, following a pattern we saw in late 2011 in states such as California, Arizona and Massachusetts.

“We expect the pattern of increasing foreclosures to continue in the coming months, especially given the finalized mortgage and foreclosure settlement

 California Top Foreclosure Rates By County – January 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

24,531

33,831

62,260

23,777

66,542

210,941

624

n/a

n/a

California

17,405

0

24,115

0

10,064

51,584

265

2.35

n/a

 

 

 

 

 

 

 

 

 

 

Yuba

53

0

100

0

66

219

126

4.95

2.10

San Joaquin

560

0

718

0

390

1,668

140

4.46

1.89

Stanislaus

374

0

539

0

344

1,257

143

4.36

1.85

Calaveras

59

0

75

0

41

175

160

3.90

1.66

San Bernardino

1,509

0

1,920

0

922

4,351

161

3.88

1.65

  California Top Foreclosure Totals by County – January 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 11

% Chg Nov 10

 

 

 

 

 

 

 

 

 

 

United States

24,531

33,831

62,260

23,777

66,542

210,941

624

2.89

-19.28

California

17,405

0

24,115

0

10,064

51,584

265

-2.32

-23.09

 

 

 

 

 

 

 

 

 

 

Los Angeles

3,660

0

5,414

0

1,580

10,654

323

-4.40

-24.27

Riverside

1,645

0

2,185

0

980

4,810

166

-6.35

-29.46

San Bernardino

1,509

0

1,920

0

922

4,351

161

11.34

-19.17

San Diego

1,436

0

1,770

0

592

3,798

307

5.44

-13.49

Orange

1,157

0

1,711

0

449

3,317

316

5.03

-7.68


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