DELAWARE FORECLOSURES DROP 78 PERCENT IN APRIL

Activity Still Up 88 Percent From a Year Ago

 

IRVINE, Calif. – May 18, 2007 – Delaware reported 32 foreclosure filings in April, falling 78 percent from the previous month, but still 88 percent above the level reported for April 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 foreclosures have nearly doubled since this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Even so, the state still holds one of the lowest foreclosure rates nationwide. With an average home price appreciation rate that is above the national average, and a very low unemployment rate it is likely that Delaware will continue to hold one of the lowest foreclosure numbers in the country.”

 

Delaware ranked among the five lowest states in total foreclosures for April. The state’s foreclosure rate of one foreclosure filing for every 10,721 households ranks it again among the six lowest states in the country.

 

New Castle County holds highest state total

New Castle County held the highest county total for the month with 28 foreclosure filings. Kent County and Sussex County followed, each reporting two filings.

 

New Castle County also posts highest foreclosure rate

New Castle County also posted the highest county foreclosure rate in Delaware for April, reporting one foreclosure filing for every 7,126 households – 1.5 times the state average. Kent County reported the second highest rate with one foreclosure filing for every 25,241 households, followed by Sussex County with one filing for every 46,535 households.

 

State contributes little to national total

Total foreclosure filings in Delaware accounted for less than 1 percent of the 147,708 foreclosure filings nationwide in April. The national total was down less than 1 percent from the previous month, but still up 62 percent from April 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 783 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 – April 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,171

49,794

7,388

21,085

22,270

147,708

783

n/a

n/a

Delaware

3

4

0

0

25

32

10,721

0.07

n/a

 

 

 

 

 

 

 

 

 

 

Kent

0

1

0

0

1

2

25,241

0.03

0.42

New Castle

1

3

0

0

24

28

7,126

0.11

1.50

Sussex

2

0

0

0

0

2

46,535

0.02

0.23

 

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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