Foreclosure Home Press Releases 1.9 Million Foreclosure Filings Reported On More Than 1.5 Million U.S. Properties In First Half Of 2009

1.9 Million Foreclosure Filings Reported On More Than 1.5 Million U.S. Properties In First Half Of 2009

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U.S. Foreclosure Activity Up 11 Percent in Q2    to Highest Quarterly Total on Record
    June Marks Fourth Straight Month with More Than 300,000 Properties with    Filings

IRVINE, Calif. – July 16,    2009 – RealtyTrac®  (http://www.realtytrac.com/gateway_co.asp?accnt=137300),    the leading online marketplace for foreclosure properties, today released    its Midyear 2009 U.S. Foreclosure Market Report, which shows a total of 1,905,723    foreclosure filings — default notices, auction sale notices and bank    repossessions — were reported on 1,528,364 U.S. properties in the first    six months of 2009, a 9 percent increase in total properties from the previous    six months and a nearly 15 percent increase in total properties from the    first six months of 2008. The report also shows that 1.19 percent of all    U.S. housing units (one in 84) received at least one foreclosure filing in    the first half of the year.

Foreclosure filings were reported on 336,173 U.S. properties in June, the  fourth straight monthly total exceeding 300,000 and helping to boost the second  quarter total to the highest quarterly total since RealtyTrac began issuing  its report in the first quarter of 2005. Foreclosure filings were reported  on 889,829 U.S. properties in the second quarter, an increase of nearly 11  percent from the previous quarter and a 20 percent increase from the second  quarter of 2008.

“In spite of the industry-wide moratorium earlier this year, along with  local, state and national legislative action and increased levels of loan modification  activity, foreclosure activity continues to increase to record levels,” noted  James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment-related  foreclosures account for much of this increased activity, and the high number  of borrowers who find themselves owing more on their mortgages than their homes’ are  now worth represent a potentially significant future risk. Stemming the tide  of foreclosures is a critical component to stabilizing the housing market,  so it is imperative that the lending industry and the government work in tandem  to find new approaches to address this issue.”

Nevada, Arizona, Florida post top state foreclosure rates
More than 6 percent of Nevada housing units (one in 16) received at least one    foreclosure filing in the first half of 2009, giving it the nation’s    highest foreclosure rate during the six-month period. A total of 68,708 Nevada    properties received a foreclosure filing from January to June, an increase    of 23 percent from the previous six months and an increase of 61 percent    from the first half of 2008.

Arizona registered the nation’s second highest state foreclosure rate  in the first half of 2009, with 3.37 percent of its housing units (one in 30)  receiving at least one foreclosure filing, and Florida registered the nation’s  third highest state foreclosure rate, with 3.08 percent of its housing units  (one in 33) receiving at least one foreclosure filing.

Other states with foreclosure rates ranking among the nation’s 10 highest  were California (2.94 percent), Utah (1.46 percent), Georgia (1.42 percent),  Michigan (1.34 percent), Illinois (1.31 percent), Idaho (1.26 percent) and  Colorado (1.25 percent).

California, Florida, Arizona post highest foreclosure total
A total of 391,611 California properties received a foreclosure filing in the    first half of 2009, the nation’s highest total and 2.94 percent of    the state’s housing units (one in 34) — the nation’s fourth    highest state foreclosure rate. California foreclosure activity in the first    half of 2009 increased nearly 14 percent from the previous six months and    increased nearly 15 percent from the first half of 2008.

With 268,064 properties receiving a foreclosure filing in the first six months  of 2009, Florida documented the second highest state total. Florida foreclosure  activity in the first half of 2009 increased 7 percent from the previous six  months and was up nearly 42 percent from the first half of 2008.

Arizona’s 89,799 properties receiving a foreclosure filing in the first  six months of 2009 was the third highest state total. Arizona foreclosure activity  in the first half of 2009 increased 13 percent from the previous six months  and was up nearly 55 percent from the first half of 2008.

Other states with totals among the 10 highest in the country were Illinois  (68,932), Nevada (68,708), Michigan (60,786), Ohio (58,937), Georgia (56,391),  Texas (49,144) and Virginia (28,368).

Report methodology
The RealtyTrac U.S. Foreclosure Market Report provides a count of the total    number of properties with at least one foreclosure filing reported during    the first half of the year at the state and national level. Data is also    available at the individual county level. Data is collected from more than    2,200 counties nationwide, and those counties account for more than 90 percent    of the U.S. population. RealtyTrac’s report incorporates 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). If more than one foreclosure document is filed against a property    during six-month period, only the most recent filing is counted in the report.

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. (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.

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Order Customized Reports
Detailed and historical foreclosure data used to create the above report may be purchased through the RealtyTrac Data Licensing Department at 949.502.8300 Ext. 158. Aggregate data is available at the state, metro, county and zip code levels dating back to 2005, and address-level foreclosure records are also available historically.

Media Contacts:
Michelle Schneider
949.502.8300 Ext. 139
michelle.schneider@realtytrac.com

Christine Stricker
949.502.8300 Ext. 268
christine.stricker@realtytrac.com

Detailed & Historical Data:
Tyler White
949.502.8300 Ext. 158
tyler.white@realtytrac.com


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