ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT
Activity Up 253 Percent From a Year Ago
IRVINE, Calif. – March 26, 2007 – Delaware reported 67 foreclosure filings in February, a 37 percent decrease from the previous month, but still a 253 percent increase from February 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 850,000 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 Delaware foreclosures have declined in February, the numbers are still more than three times what they were this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Even so, the state still holds 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 February. The state’s foreclosure rate of one foreclosure filing for every 5,120 households ranks it 40th among the 50 states.
New Castle County accounts for majority of state total
New Castle County reported the highest county total, with 66 foreclosure filings for the month. Sussex County came in second, reporting one foreclosure filing.
New Castle County also reports highest foreclosure rate in state
New Castle County tallied the state’s highest foreclosure rate for February, reporting one foreclosure filing for every 3,023 households — 1.7 times the state average. Sussex County posted the second highest rate in the state, with one foreclosure filing for every 93,070 households.
State contributes less than 1 percent to national total
Total foreclosure filings in Delaware accounted for less than 1 percent of the 130,786 filings nationwide in February. The national total was down 4 percent from the previous month, but still up 12 percent from February 2006. The nation’s foreclosure rate increased slightly to one foreclosure filing for every 884 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.
Delaware Foreclosure Market by County – February 2007
1 in every # households
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