DELAWARE FORECLOSURE ACTIVITY UP 113 PERCENT IN MARCH

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 472 Percent From A Year Ago

 

IRVINE, Calif. – April 23, 2007 – Delaware reported 143 foreclosure filings in March, a 113 percent increase from the previous month, and a 472 percent increase from March 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.

 

Delaware’s economy continues to strengthen and its unemployment rate remains low,” said James J. Saccacio, chief executive officer of RealtyTrac. “Still, foreclosure activity remains high, both compared to last month and to this time a year ago.”

 

Delaware ranked 39th in the country in total foreclosures reported for March. The state’s foreclosure rate of one foreclosure filing for every 2,399 households ranked 32nd among the 50 states.

 

New Castle County leads state in foreclosure activity

New Castle County led the state in foreclosure activity, reporting 91 foreclosure filings for the month. Kent County had the second highest foreclosure total, reporting 34 foreclosure filings. Sussex County came in third place, reporting 18 foreclosure filings.

 

Kent County leads state in foreclosure rate

Kent County posted the highest foreclosure rate in Delaware for March, reporting one foreclosure filing for every 1,485 households — 1.6 times the state average. New Castle County posted the second highest foreclosure rate, reporting one foreclosure filing for every 2,193 households. Sussex County posted the third highest foreclosure total for the month, reporting one foreclosure filing for every 5,171 households.

 

State has minimal impact on national total for March

Total foreclosure filings in Delaware accounted for less than 1 percent of the 149,150 foreclosure filings nationwide in March. The national total was up almost 7 percent from the previous month, and surged 47 percent from March 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 775 U.S. households during 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 – March 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,134

51,203

8,906

19,416

22,491

149,150

775

n/a

n/a

Delaware

7

106

0

0

30

143

2,399

0.32

n/a

 

 

 

 

 

 

 

 

 

 

Kent

0

34

0

0

0

34

1,485

0.52

1.62

New Castle

5

56

0

0

30

91

2,193

0.35

1.09

Sussex

2

16

0

0

0

18

5,171

0.15

0.46

 

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).

 

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Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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