ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT
Activity Up 56 Percent From a Year Earlier
IRVINE, Calif. – June 15, 2007 – Alaska reported 134 foreclosure filings in May, a 54 percent increase in activity from the previous month, and a 56 percent increase from May 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.
RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 900,000 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.
“Although Alaska’s job growth remains strong, foreclosure activity is up, both compared to one month earlier and to the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Still, the state’s rate of foreclosure remains well below the national average.”
Alaska ranked 44th in the country in total foreclosures reported for May. The state posted the 24th highest foreclosure rate in the country for the month — one foreclosure filing for every 1,531 households.
Anchorage County leads state in activity
Anchorage County documented the highest total in the state, reporting 66 foreclosure filings for the month. Matanuska Susitna County documented the second highest total, reporting 21 foreclosure filings. Fairbanks North Star County reported the third highest total, with 20 foreclosure filings.
Kenai Peninsula County leads state in foreclosure rate for the month
Kenai Peninsula County posted the highest foreclosure rate in the state for May — one foreclosure filing for every 226 households — 6.8 times the state average and 2.9 times the national average. Matanuska Susitna County tallied the second highest rate in the state — one foreclosure filing for every 1,301 households — 1.2 times the state. Anchorage County posted the third highest foreclosure rate, with one foreclosure filing for every 1,521 households.
State makes small contribution to national total for May
Total foreclosure filings in Alaska accounted for less than 1 percent of the 176,137 foreclosure filings nationwide. The national total was up 19 percent from the previous month, and up 90 percent from May 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 656 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: 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.
Alaska Foreclosure Market by County – May 2007
1 in every # households
Fairbanks North Star
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 1.3 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).
Atomic Public Relations