DELAWARE FORECLOSURE ACTIVITY DOWN 45 PERCENT IN OCTOBER

Yearly Foreclosure Total Up 162 Percent From October 2006

 

IRVINE, Calif. – Nov. 26, 2007 – Delaware reported 131 foreclosure filings in October, a 45 percent decrease from the previous month, but still a 162 percent increase from October 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.

 

“Although Delaware foreclosures decreased in October, they have more than doubled since this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state’s home sales have decreased slightly more than the national average over the past year. Even so, Delaware continues to hold one of the lower foreclosure rates when compared to the rest of the country.”

 

Delaware ranked among the 10 lowest states in total foreclosures for the month. The state’s foreclosure rate of one foreclosure filing for every 2,862 households ranked it 40th among the 50 states.

 

New Castle County leads state in foreclosure activity

New Castle County reported 65 foreclosure filings, the most of any county for the month. Kent County posted the second highest foreclosure total, with 36 foreclosure filings for the month, followed by Sussex County with 30 foreclosure filings.

 

Kent County posts highest foreclosure rate

Kent County reported the highest foreclosure rate in Delaware for October, with one foreclosure filing for every 1,616 households — 1.8 times the state average. New Castle County posted the second highest foreclosure rate, with one foreclosure filing for every 3,224 households. Sussex County posted the third highest foreclosure rate, with one foreclosure filing for every 3,571 households.

 

State makes minor contribution to national total

Total foreclosure filings in Delaware accounted for less than 1 percent of the 224,451 foreclosure filings nationwide in October. The national total represents a 2 percent increase from the previous month and is still 94 percent above the total reported for October 2006. The nation’s foreclosure rate is one foreclosure filing for every 555 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.

 

Delaware Foreclosure Market by County – October 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

41,404

58,597

22,485

48,356

53,609

224,451

555

n/a

n/a

Delaware

0

0

92

10

29

131

2,862

0.19

n/a

 

 

 

 

 

 

 

 

 

 

Kent

0

0

36

0

0

36

1,616

0.34

1.77

New Castle

0

0

28

8

29

65

3,224

0.17

0.89

Sussex

0

0

28

2

0

30

3,571

0.16

0.80

 

 

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

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved