California Foreclosure Activity Continues Leading Nation in 2009

Statewide filings up 21 percent from 2008; rate ranks #4 nationally

Activity up 9 percent from November; down 10 percent from year ago

 

California ended 2009 the way it began, leading the nation in foreclosure activity for the entire year, tallying 632,573 properties with foreclosure filings along the way, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  The yearly total represents a 21 percent increase from the total reported for 2008, and is 154 percent higher than the level reported for all of 2007. With one in every 21 housing units receiving a foreclosure filing, California’s foreclosure rate ranked fourth highest in the nation for the year.

 

As it has for every month over the past three years, California led the nation in foreclosure activity again in December, reporting 80,488 properties with foreclosure filings, a 9 percent increase over the previous month, but down 10 percent from December 2008. The state’s foreclosure rate — one in every 165 housing units received a foreclosure filing — was fifth highest in the nation for the month.

 

California maintained its status as the nation’s leader in foreclosure activity during 2009 and on a monthly basis in December,” said James J. Saccacio, chief executive officer of RealtyTrac. “On the positive side, California’s overall foreclosure momentum showed signs of slowing down compared to the past couple of years. One contributing factor to this trend was home sales activity, which was on an upswing for the year as pent-up demand for distressed homes brought buyers out in droves thanks in large part to government’s first-time home buyer tax credit.”

 

The Golden State held its own once again, as second place Florida reported 516,711 properties with foreclosure filings for 2009. Arizona came in a distant third, reporting 163,210 properties with foreclosure filings. Illinois took fourth place, documenting 131,132 properties with foreclosure filings. Fifth place went to Michigan, which reported 118,302 properties with foreclosure filings.

 

The remaining states in the nation’s top 10 for total foreclosure filings for 2009 were Nevada (112,097), Georgia (108,110), Ohio (101,614), Texas (100,045) and New Jersey (63,208). Activity in the top five states accounted for 55 percent of all foreclosure filings in the nation for 2009.

 

Merced County posts state’s highest foreclosure rate for 2009

With one in every 10 housing units receiving a foreclosure filing in 2009, Merced County posted the highest county foreclosure rate in the state for the year. Riverside County had the second highest rate, with one in every 11 housing units receiving a foreclosure filing. San Joaquin County came in third highest, with one in every 12 housing units receiving a foreclosure filing. Stanislaus County was fourth highest followed by San Bernardino County, both of which also had a rate of one in every 12 housing units receiving a foreclosure filing.

 

So Cal counties dominated in total foreclosure filings in 2009

Five Southern California counties led the state in foreclosure activity in 2009. Leading the way was Los Angeles County, which reported a total 137,512 properties with foreclosure filings for the year. Riverside County came in second, documenting 69,855 properties with foreclosure filings. Reporting 56,521 properties with foreclosure filings for the year, San Bernardino County had the third highest total in the state. San Diego County was fourth highest, reporting 49,125 properties with foreclosure filings, followed by Orange County in fifth place, tallying 38,298 properties with foreclosure filings for all of 2009.

 

State the largest contributor to nation’s foreclosure total in 2009

California accounted for 22 percent of the 2,824,674 properties with foreclosure filings reported nationwide in 2009. Total U.S. activity increased more than 21 percent over the level reported for all of 2008. One in every 45 U.S. housing units received a foreclosure filing during the year.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. 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 received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

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

 

 

California Top Foreclosure Rates By County: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

%Chg

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

California

632,573

4.75

21

20.81

153.52

 

 

 

 

 

 

Merced

8,389

10.10

10

1.18

124.85

Riverside

69,855

9.25

11

12.96

134.21

San Joaquin

19,540

8.62

12

-7.51

84.22

Stanislaus

14,812

8.53

12

-0.48

101.09

San Bernardino

56,521

8.30

12

12.04

157.05

 

 

California Top Foreclosure Totals by County: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

% Chg  

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

California

632,573

4.75

21

20.81

153.52

 

 

 

 

 

 

Los Angeles

137,512

4.08

25

41.80

202.64

Riverside

69,855

9.25

11

12.96

134.21

San Bernardino

56,521

8.30

12

12.04

157.05

San Diego

49,125

4.34

23

9.33

142.96

Orange

38,298

3.72

27

22.36

205.99

 

 

California Top Foreclosure Rates By County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl Avg

/State Avg

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

n/a

n/a

California

27,837

0

32,224

0

20,427

80,488

165

2.21

n/a

 

 

 

 

 

 

 

 

 

 

Merced

293

0

342

0

338

973

85

4.29

1.94

San Benito

69

0

74

0

57

200

89

4.11

1.86

Riverside

2,770

0

3,156

0

2,246

8,172

92

3.96

1.79

Stanislaus

537

0

704

0

602

1,843

94

3.89

1.76

San Bernardino

2,359

0

2,758

0

2,007

7,124

96

3.83

1.73

 

 

California Top Foreclosure Totals by County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Nov 09

% Chg Dec 08

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

13.99

15.20

California

27,837

0

32,224

0

20,427

80,488

165

8.77

-10.02

 

 

 

 

 

 

 

 

 

 

Los Angeles

5,719

0

7,237

0

3,331

16,287

207

6.49

2.20

Riverside

2,770

0

3,156

0

2,246

8,172

92

9.40

-21.02

San Bernardino

2,359

0

2,758

0

2,007

7,124

96

8.85

-19.69

San Diego

2,115

0

2,730

0

1,292

6,137

185

17.91

-8.42

Orange

1,997

0

2,113

0

767

4,877

211

35.81

2.24

 

 

 

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