Foreclosure Home Press Releases STOCKTON, DETROIT, LAS VEGAS POST TOP METRO FORECLOSURE RATES

STOCKTON, DETROIT, LAS VEGAS POST TOP FORECLOSURE RATES

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California and Ohio Cities Account for 10 of Top 20 Metro Foreclosure Rates
Richmond, Va., Greenville, S.C., McAllen, Texas Post Three Lowest Rates

IRVINE, Calif. – Aug 14, 2007 – RealtyTrac® (realtytrac.com), the leading online marketplace for foreclosure properties, today released its 2007 Midyear Metropolitan Foreclosure Market Report™, which shows Stockton, Calif., Detroit and Las Vegas documenting the three highest foreclosure rates among the nation’s 100 largest metropolitan areas during the first six months of the year. McAllen, Texas, Greenville, S.C., and Richmond, Va., registered the three lowest metro foreclosure rates in the report.

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.

“This report clearly demonstrates that not all local housing markets are flooded with foreclosures,” said James J. Saccacio, chief executive officer of RealtyTrac. “While foreclosure activity has skyrocketed over the past year in many cities, particularly in California, Ohio and the Northeast, foreclosure activity seems to be subsiding in parts of Texas, South Carolina and other states. Still, the overall trend is toward escalating foreclosure rates, with 82 of the top 100 metro areas reporting year-over-year increases in the number of homes affected by foreclosure.

Stockton, Detroit, Las Vegas document highest metro foreclosure rates
With one foreclosure filing for every 27 households, Stockton, Calif., reported the highest foreclosure rate among the nation’s 100 largest metro areas during the first half of 2007. The metro area, comprised of San Joaquin County, reported a total of 8,169 foreclosure filings on 4,239 properties, more than twice the number of properties reported in the previous six-month period and more than triple the number reported in the first six months of 2006.

Detroit documented the second highest foreclosure rate among the nation’s 100 largest metropolitan areas — one foreclosure filing for every 29 households. The metro area, comprised of Wayne County, reported 28,705 foreclosure filings on 20,231 properties, a 26 percent increase from the previous six-month period and nearly double the number reported in the first six months of 2006.

Las Vegas documented the third highest foreclosure rate among the nation’s 100 largest metropolitan areas, with one foreclosure filing for every 31 households during the first half of 2007. The metro area, which comprises Clark County, reported 22,928 foreclosure filings on 13,028 properties, a 72 percent increase from the previous six-month period and more than twice the number reported in the first six months of 2006.

Other cities in the top 10 were Riverside-San Bernardino, Calif., Sacramento, Calif., Denver, Miami, Bakersfield, Calif., Memphis and Cleveland.

Riverside-San Bernardino, Los Angeles, Atlanta report most foreclosure filings
The Riverside-San Bernardino metropolitan area in Southern California reported 41,351 foreclosure filings on 22,291 properties during the first half of 2007, the most total filings of any metro area and a foreclosure rate of one filing for every 33 households — fourth highest among the top 100 metro areas. The number of properties with foreclosure filings in Riverside-San Bernardino nearly tripled from the first six months of 2006.

The Los Angeles metro area reported the second highest total, with 38,199 foreclosure filings on 20,288 properties during the first half of the year. The city’s foreclosure rate of one foreclosure filing for every 87 households ranked 29th among the top 100 metro areas.

Atlanta’s total of 36,502 foreclosure filings on 22,412 properties was the third highest among the 100 top metro areas. The number of properties with foreclosure filings during the first half of 2007 increased 17 percent from the first half of 2006, and the city’s foreclosure rate of one foreclosure filing for every 54 households ranked No. 12.

Other cities with foreclosure filing totals among the 10 highest included Chicago, Detroit, Denver, Dallas, Las Vegas, Phoenix and Sacramento.

Report methodology
The RealtyTrac Metro Foreclosure Market Report provides the total number of foreclosure filings by metropolitan area, along with the number of households per foreclosure filing. The household numbers are based on the U.S. Census Bureau’s 2005 estimates of total housing units.

Beginning with the Midyear 2007 report, the report also includes counts of properties with at least one foreclosure filing reported against them. This new metric only counts a property once, even if there were multiple foreclosure actions filed against the property during the time period covered by the report.

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).

 

Foreclosure Activity for the Nation’s 100 Largest MSAs – Jan to Jun 2007

Rate Rank MSA Foreclosure Filings 1 Filing for every #HH Properties with filings %Change from prev 6 months %Change from first half 2006

1

STOCKTON, CA

8,169

27

4,239

116

256

2

DETROIT/LIVONIA/DEARBORN, MI

28,705

29

20,231

26

99

3

LAS VEGAS/PARADISE, NV

22,928

31

13,028

72

142

4

RIVERSIDE/SAN BERNARDINO, CA

41,351

33

22,291

80

198

5

SACRAMENTO, CA

20,516

36

10,708

162

241

6

DENVER/AURORA, CO

23,842

42

13,149

14

11

7

MIAMI, FL

20,275

46

10,191

24

74

8

BAKERSFIELD, CA

5,365

47

2,721

85

222

9

MEMPHIS, TN

10,800

49

5,401

12

17

10

CLEVELAND/LORAIN/ELYRIA/MENTOR, OH

18,844

50

13,444

54

106

11

FORT LAUDERDALE, FL

15,720

50

7,162

16

72

12

ATLANTA/SANDY SPRINGS/MARIETTA, GA

36,502

54

22,412

20

17

13

FORT WORTH/ARLINGTON, TX

13,221

57

6,250

7

-10

14

FRESNO, CA

4,867

60

2,679

66

183

15

INDIANAPOLIS, IN

11,677

62

8,093

-3

-6

16

DAYTON, OH

5,966

63

3,881

56

96

17

DALLAS, TX

23,284

65

12,725

-9

-15

18

AKRON, OH

4,378

70

3,686

65

85

19

OAKLAND, CA

13,482

70

7,491

63

152

20

COLUMBUS, OH

10,706

70

7,363

55

85

21

JACKSONVILLE, FL

7,513

73

4,881

42

20

22

PHOENIX/MESA, AZ

21,378

74

11,596

66

139

23

SAN DIEGO, CA

14,859

75

8,929

65

164

24

TAMPA/ST PETERSBURG/CLEARWATER, FL

15,905

79

10,173

41

68

25

WARREN/FARMINGTON HILLS/TROY, MI

13,093

80

9,192

34

92

26

TOLEDO, OH

3,530

84

2,464

33

47

27

VENTURA, CA

3,100

86

1,863

103

183

28

NEWHAVEN/MILFORD, CT

4,017

86

1,734

275

547

29

LOS ANGELES/LONG BEACH, CA

38,199

87

20,288

65

125

30

CHICAGO, IL

34,818

88

23,988

17

45

31

SARASOTA/BRADENTON/VENICE, FL

3,919

94

2,594

100

166

32

EDISON, NJ

9,462

98

4,117

36

58

33

ORLANDO, FL

8,325

98

6,098

60

49

34

CINCINNATI, OH

8,949

100

7,335

68

166

35

WORCESTER, MA

3,097

101

1,459

71

374

36

LAKE/KENOSHA, IL-WI

2,454

101

1,777

12

27

37

CAMDEN, NJ

2,761

101

1,402

-17

56

38

CHARLOTTE/GASTONIA, NC

6,498

101

4,925

109

116

39

PALM BEACH, FL

6,063

102

4,414

16

32

40

GARY, IN

2,614

108

1,593

15

49

41

LITTLE ROCK/NORTH LITTLE ROCK, AR

2,617

108

870

-24

-39

42

KANSAS CITY, MO-KS

7,703

111

4,989

45

117

43

SAN ANTONIO, TX

6,409

112

3,710

-15

-1

44

HARTFORD, CT

4,326

112

1,851

168

446

45

ORANGE, CA

9,012

113

5,330

73

153

46

AUSTIN/ROUND ROCK, TX

5,155

115

2,635

-12

-21

47

SPRINGFIELD, MA

2,424

116

954

41

234

48

BRIDGEPORT/STAMFORD/NORWALK, CT

2,847

122

1,115

186

552

49

TUCSON, AZ

3,323

122

1,984

42

55

50

NEWARK, NJ

6,745

124

3,417

1

20

51

TACOMA, WA

2,427

125

1,485

24

23

52

HOUSTON/BAYTOWN/SUGAR LAND, TX

16,057

127

11,780

-14

1

53

ESSEX, MA

2,179

135

987

67

409

54

OKLAHOMA CITY, OK

3,660

138

2,280

-22

-22

55

TULSA, OK

2,712

143

2,015

-8

-12

56

SAN JOSE/SUNNYVALE/SANTA CLARA, CA

4,197

148

2,407

62

105

57

SUFFOLK/NASSAU, NY

6,624

150

4,815

22

17

58

ST LOUIS, MO-IL

8,023

151

7,038

23

55

59

BOSTON/QUINCY, MA

4,862

153

2,062

59

342

60

RALEIGH/CARY, NC

2,505

158

1,906

108

105

61

NASHVILLE/DAVIDSON, TN

3,788

161

2,403

32

31

62

LOUISVILLE, KY

3,150

169

1,975

-20

7

63

SALT LAKE CITY, UT

2,185

172

1,682

-14

-39

64

EL PASO, TX

1,306

187

813

-8

-2

65

CAMBRIDGE/NEWTON/FRAMINGHAM, MA

3,045

193

1,264

93

313

66

WASHINGTON/ARLINGTON/ALEXANDRIA, DC-VA-MD

8,483

195

6,275

225

430

67

PHILADELPHIA, PA

8,086

198

6,918

1

2

68

ALBUQUERQUE, NM

1,635

208

1,147

10

-38

69

ROCHESTER, NY

2,041

215

1,873

58

208

70

GREENSBORO/HIGHPOINT, NC

1,336

225

1,270

100

75

71

BIRMINGHAM/HOOVER, AL

1,986

227

1,672

27

157

72

OMAHA/COUNCIL BLUFFS, NE-IA

1,480

229

1,393

-9

158

73

MILWAUKEE/WAUKESHA/ST ALLIS, WI

2,782

231

2,128

7

22

74

SCRANTON/WILKES-BARRE/HAZLETON, PA

1,076

239

469

28

110

75

MINNEAPOLIS/ST PAUL/BLOOMINGTON, MN

5,270

245

4,663

60

201

76

SEATTLE/BELLEVUE/EVERETT, WA

4,302

246

2,689

26

7

77

KNOXVILLE, TN

1,211

246

762

26

9

78

SAN FRANCISCO, CA

2,765

263

1,475

48

83

79

NEW ORLEANS, LA

2,178

267

1,342

122

610

80

PITTSBURGH, PA

3,917

281

3,046

-21

-22

81

PROVIDENCE/NEW BEDFORD, RI

1,489

301

504

129

473

82

NEW YORK/WAYNE/WHITE PLAINS, NY

14,300

305

10,666

27

47

83

BUFFALO/CHEEKTOWAGA/TONAWANDA, NY

1,565

332

1,010

-36

76

84

PORTLAND/VANCOUVER/BEAVERTON, OR

2,426

353

2,279

7

7

85

BETHESDA/FREDERICK/GAITHERSBURG, MD

1,196

368

954

826

581

86

BALTIMORE/TOWSON, MD

2,816

387

2,325

227

275

87

WICHITA, KS

633

399

420

-1

0

88

POUGHKEEPSIE/NEWBURGH/MIDDLETOWN, NY

566

428

377

-30

2

89

ALBANY/SCHENECTADY/TROY, NY

690

544

376

198

82

90

CHARLESTON, SC

483

547

436

29

-23

91

WILMINGTON, DE

469

588

398

60

108

92

SYRACUSE, NY

441

643

225

4

3

93

BATON ROUGE, LA

456

668

423

-78

265

94

ALLENTOWN/BETHLEHEM/EASTON, PA

403

756

341

56

34

95

COLUMBIA, SC

392

757

368

-8

-49

96

NORFOLK/VIRGINIA BEACH/NEWPORT NEWS, VA

747

787

613

96

191

97

HONOLULU, HI

286

1,151

252

25

68

98

MCALLEN/EDINBURG/PHARR, TX

155

1,494

150

-18

-35

99

GREENVILLE, SC

151

1,721

133

-75

-66

100

RICHMOND, VA

213

2,319

196

22

-1

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.

###

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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