MARYLAND FORECLOSURES INCREASE 24 PERCENT IN JUNE

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 370 Percent From June 2006

 

IRVINE, Calif. – July 31, 2007 – Maryland reported 2,192 foreclosure filings in June, a 24 percent increase from the previous month, and 370 percent above the number reported in June 2006, according to the latest RealtyTrac® U.S. Foreclosure Market 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.

 

“Despite its recent increase in foreclosure activity, Maryland’s economy continues to grow and the state’s foreclosure rate remains below the national average,” said James J. Saccacio, chief executive officer of RealtyTrac.

 

Maryland ranked 18th in the country in total foreclosures reported for June. The state’s foreclosure rate of one foreclosure filing for every 979 households ranked it 18th among the 50 states.

 

Prince George’s County leads state in foreclosure activity

Prince George’s County led the state in foreclosure activity for June, reporting 770 foreclosure filings. Baltimore County reported the second highest county total with 222 foreclosure filings. Baltimore City County came in third with 207 foreclosure filings for the month.

 

Saint Mary’s County posts highest foreclosure rate

Saint Mary’s County posted the highest foreclosure rate in the state, with one foreclosure filing for every 306 households — 3.2 times the state average and 2.3 times the national average. Charles County posted the second highest foreclosure rate in the state, with one foreclosure filing for every 378 households — 2.6 times the state average and 1.9 times the national average. Prince George’s County posted the third highest foreclosure rate, with one foreclosure filing for every 393 households — 2.5 times the state average and 1.8 times the national average.

 

State a contributor to national total

Total foreclosure filings in Maryland accounted for 1 percent of the 164,644 foreclosure filings nationwide in June. The national total was down 7 percent from the previous month but still up 87 percent from June 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 704 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. 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).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

                            Maryland Foreclosure Market by County – June 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,048

51,492

12,488

38,247

26,369

164,644

704

n/a

n/a

Maryland

0

822

237

941

192

2,192

979

0.72

n/a

 

 

 

 

 

 

 

 

 

 

Allegany

0

1

9

12

2

24

1,374

0.51

0.71

Anne Arundel

0

78

9

28

3

118

1,584

0.44

0.62

Baltimore

0

112

6

82

22

222

1,413

0.50

0.69

Baltimore City

0

47

29

89

42

207

1,452

0.48

0.67

Calvert

0

32

6

16

3

57

449

1.57

2.18

Caroline

0

1

7

6

1

15

802

0.88

1.22

Carroll

0

27

4

14

7

52

1,043

0.67

0.94

Cecil

0

2

5

4

3

14

2,462

0.29

0.40

Charles

0

91

3

15

7

116

378

1.86

2.59

Dorchester

0

3

2

1

3

9

1,631

0.43

0.60

Frederick

0

43

10

25

8

86

849

0.83

1.15

Garrett

0

0

0

2

0

2

8,381

0.08

0.12

Harford

0

0

15

41

13

69

1,205

0.58

0.81

Howard

0

40

1

15

1

57

1,628

0.43

0.60

Kent

0

4

0

0

0

4

2,353

0.30

0.42

Montgomery

0

30

48

102

27

207

1,617

0.44

0.61

Prince George‘s County

0

277

68

407

18

770

393

1.79

2.49

Queen Anne’s County

0

2

0

4

2

8

2,084

0.34

0.47

Saint Mary’s

0

26

3

3

1

33

306

2.30

3.20

Somerset

0

0

0

0

1

1

10,092

0.07

0.10

Talbot

0

0

1

5

0

6

2,750

0.26

0.36

Washington

0

1

9

33

13

56

946

0.74

1.03

Wicomico

0

4

2

29

8

43

800

0.88

1.22

Worcester

0

1

0

8

7

16

2,960

0.24

0.33

 

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 homes, with more than 1.3 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

michelle.sabolich@atomicpr.com

 

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