UTAH FORECLOSURES DOWN 21 PERCENT IN DECEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Level Declines 17 Percent From a Year Ago

 

IRVINE, Calif. – Jan. 15, 2007 – Utah reported 722 properties entering some stage of the foreclosure process in December, a 21 percent decrease from the 915 properties reported in November, and a 17 percent decline from the 871 properties reported for the same month last year, according to the RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 700,000 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.

 

Utah foreclosures are the lowest we’ve seen them throughout 2006,” said James J. Saccacio, chief executive officer of RealtyTrac. “Recent statistics show that the state’s job growth is booming and that its home price appreciation rate is more than double the national average. If these trends continue, it is likely we will see foreclosure numbers go even lower in 2007.”

 

Utah ranked 23rd in the country in total foreclosures reported for December. The state’s foreclosure rate of one new foreclosure filing for every 1,065 households ranks it 15th among the 50 states.

 

Salt Lake County accounts for largest share of state total

Salt Lake County led the state in foreclosures for the month, reporting 383 properties entering some stage of the foreclosure process. Davis County documented the second highest total, reporting 170 properties entering some stage of the foreclosure process. Weber County held the third highest total, reporting 81 properties in the foreclosure pipeline.

 

State’s top foreclosure rate found in Davis County

Davis County posted the state’s highest foreclosure rate for December, with one new foreclosure filing for every 436 households — 2.4 times the state and national average. Salt Lake County reported the second highest foreclosure rate, with one new foreclosure filing for every 812 households — 1.3 times the state and national average. Washington County reported the third highest foreclosure rate, with one new foreclosure filing for every 848 households — 1.3 times the state average and 1.2 times the national average.

 

State contributes less than 1 percent to national total

Utah’s foreclosure activity accounted for less than 1 percent of the 109,652 properties entering some stage of foreclosure nationwide in December. The national total represents a 9 percent decrease from the 120,334 foreclosures reported in November. The nation’s foreclosure rate decreased to one new foreclosure filing for every 1,055 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — 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.

 

                      Utah Foreclosure Market by County – December 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

26,593

41,292

5,472

15,887

20,408

109,652

1,055

n/a

n/a

Utah

341

344

0

0

37

722

1,065

0.99

n/a

 

 

 

 

 

 

 

 

 

 

Beaver

0

0

0

0

0

0

 n/a

0.00

0.00

Box Elder

2

0

0

0

0

2

7,105

0.15

0.15

Cache

0

7

0

0

0

7

4,148

0.25

0.26

Davis

79

76

0

0

15

170

436

2.42

2.44

Emery

0

0

0

0

0

0

 n/a

0.00

0.00

Garfield

0

0

0

0

0

0

 n/a

0.00

0.00

Grand

0

0

0

0

0

0

 n/a

0.00

0.00

Iron

0

0

0

0

0

0

 n/a

0.00

0.00

Juab

1

0

0

0

0

1

2,810

0.38

0.38

Kane

0

1

0

0

0

1

3,767

0.28

0.28

Salt Lake

187

182

0

0

14

383

812

1.30

1.31

Sevier

0

3

0

0

0

3

2,339

0.45

0.46

Summit

1

6

0

0

0

7

2,498

0.42

0.43

Tooele

0

5

0

0

2

7

1,973

0.53

0.54

Uintah

0

0

0

0

0

0

 n/a

0.00

0.00

Utah

12

3

0

0

0

15

6,954

0.15

0.15

Wasatch

0

2

0

0

0

2

3,282

0.32

0.32

Washington

17

25

0

0

1

43

848

1.24

1.25

Weber

42

34

0

0

5

81

870

1.21

1.22

 

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

michelle.sabolich@atomicpr.com

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