FLORIDA FORECLOSURES INCREASE 52 PERCENT IN MAY

Activity Level Up 144 Percent From May 2006; Foreclosure Rate in Top 5

 

IRVINE, Calif. – June 15, 2007 – Florida reported 21,704 foreclosure filings in May, a 52 percent increase from the previous month and 144 percent above the number reported in May 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report. The state posted a foreclosure rate of one foreclosure filing for every 336 households — fourth highest rate in the nation for the month and nearly twice the national average.

 

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.

 

“Total foreclosure filings in Florida were up sharply in May from the month before, and have more than doubled on an annual basis,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment is low, but home prices and sales volume are weak, with no signs of recovery in the near future.”

 

Although up significantly from April, the Sunshine State’s foreclosure total was slightly more than half of California’s 39,659 foreclosure filings reported. Ohio reported the third highest total for the month with 13,214 foreclosure filings. Fourth place Texas reported 9,653 filings and fifth place Michigan had 9,461 filings for the month. The remaining states in the nation’s top 10 for total foreclosures in May were Georgia, Illinois, Colorado, Arizona and Nevada.

 

Miami-Dade County accounts for 20 percent of state total

Miami-Dade County led the state in foreclosure activity once again in May, reporting 4,396 foreclosure filings and accounting for 20 percent of the state’s total for the month. Broward County reported the second highest total, 2,960 foreclosure filings for the month. Hillsborough County reported 1,443 foreclosure filings, third highest total in the state. Duval County reported the fourth highest total, 1,219 foreclosure filings, and Pinellas County had the fifth highest activity level, with 1,202 filings entering some part of the foreclosure pipeline.

 

Osceola County claims state’s top foreclosure rate

Osceola County tallied the highest county foreclosure rate in Florida for May, one foreclosure filing for every 140 households — 2.4 times the state average and 4.7 times the national average. Flagler County posted the second highest rate, one foreclosure filing for every 148 households — 2.3 times the state average and 4.4 times the national average. Third highest rate was reported in Miami-Dade County, with one foreclosure filing for every 194 households — 1.7 times the state average and 3.4 times the national average. Pasco County’s rate of one filing for every 216 households was the fourth highest in the state, and Manatee County had the state’s fifth highest rate, one filing for every 236 households.

 

State a major contributor to national total for the month

Total foreclosure filings in Florida accounted for 12 percent of the 176,137 foreclosure filings nationwide in May. The national total was up 19 percent from the previous month and up 90 percent from May 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 656 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.

 

 

                         Florida Foreclosure Market by County – May 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

55,615

56,481

9,760

25,733

28,548

176,137

656

n/a

n/a

Florida

0

19

3,164

17,000

1,521

21,704

336

1.95

n/a

 

 

 

 

 

 

 

 

 

 

Alachua

0

0

16

75

7

98

971

0.68

0.35

Baker

0

0

0

1

1

2

3,796

0.17

0.09

Bay

0

1

11

50

10

72

1,089

0.60

0.31

Bradford

0

0

1

2

1

4

2,401

0.27

0.14

Brevard

0

0

83

593

28

704

315

2.08

1.07

Broward

0

2

418

2,429

111

2,960

250

2.62

1.34

Calhoun

0

0

0

3

0

3

1,750

0.38

0.19

Charlotte

0

0

68

144

5

217

368

1.79

0.92

Citrus

0

0

38

89

12

139

448

1.47

0.75

Clay

0

0

28

130

2

160

336

1.95

1.00

Collier

0

1

26

142

5

174

831

0.79

0.41

Columbia

0

0

5

3

1

9

2,620

0.25

0.13

De Soto

0

0

0

7

0

7

1,944

0.34

0.17

Dixie

0

0

0

1

2

3

2,454

0.27

0.14

Duval

0

3

267

760

189

1,219

271

2.43

1.24

Escambia

0

1

20

148

14

183

681

0.96

0.49

Flagler

0

1

18

135

11

165

148

4.43

2.27

Franklin

0

0

0

3

0

3

2,393

0.27

0.14

Gadsden

0

0

3

4

5

12

1,475

0.44

0.23

Gilchrist

0

0

0

5

1

6

849

0.77

0.40

Glades

0

0

0

1

0

1

5,790

0.11

0.06

Gulf

0

0

0

0

0

0

n/a

0.00

0.00

Hamilton

0

0

0

0

0

0

n/a

0.00

0.00

Hardee

0

0

0

5

1

6

1,637

0.40

0.21

Hendry

0

0

9

19

4

32

384

1.71

0.88

Hernando

0

1

23

192

32

248

253

2.60

1.33

Highlands

0

0

2

24

10

36

1,357

0.48

0.25

Hillsborough

0

0

111

1,195

137

1,443

295

2.22

1.14

Holmes

0

0

1

0

0

1

7,998

0.08

0.04

Indian River

0

1

9

78

3

91

636

1.03

0.53

Jackson

0

0

0

1

2

3

6,497

0.10

0.05

Jefferson

0

0

0

0

1

1

5,251

0.13

0.06

Lafayette

0

0

0

1

0

1

2,660

0.25

0.13

Lake

0

0

43

219

17

279

369

1.78

0.91

Lee

0

3

144

818

54

1,019

241

2.73

1.40

Leon

0

0

5

53

5

63

1,650

0.40

0.20

Levy

0

0

0

1

0

1

16,570

0.04

0.02

Liberty

0

0

0

1

0

1

3,156

0.21

0.11

Madison

0

0

0

0

1

1

7,836

0.08

0.04

Manatee

0

0

50

500

36

586

236

2.79

1.43

Marion

0

0

35

227

20

282

435

1.51

0.77

Martin

0

0

6

49

2

57

1,149

0.57

0.29

Miami-Dade

0

1

719

3,244

432

4,396

194

3.39

1.74

Monroe

0

0

1

34

5

40

1,290

0.51

0.26

Nassau

0

0

12

39

5

56

463

1.42

0.73

Okaloosa

0

0

12

58

4

74

1,062

0.62

0.32

Okeechobee

0

0

3

10

3

16

969

0.68

0.35

Orange

0

0

73

498

15

586

617

1.06

0.55

Osceola

0

0

31

480

5

516

140

4.69

2.40

Palm Beach

0

1

112

689

21

823

676

0.97

0.50

Pasco

0

1

96

574

135

806

216

3.05

1.56

Pinellas

0

0

291

882

29

1,202

401

1.64

0.84

Polk

0

0

92

619

31

742

305

2.15

1.10

Putnam

0

0

12

23

8

43

788

0.83

0.43

Saint Johns

0

0

22

92

5

119

487

1.35

0.69

Saint Lucie

0

0

49

227

27

303

301

2.18

1.12

Santa Rosa

0

0

11

83

4

98

501

1.31

0.67

Sarasota

0

0

68

529

32

629

290

2.26

1.16

Seminole

0

0

57

282

7

346

425

1.54

0.79

Sumter

0

0

1

19

6

26

969

0.68

0.35

Suwannee

0

0

0

0

0

0

 n/a

0.00

0.00

Taylor

0

0

3

1

2

6

1,608

0.41

0.21

Union

0

0

0

0

0

0

n/a

0.00

0.00

Volusia

0

2

55

490

14

561

378

1.74

0.89

Wakulla

0

0

0

8

0

8

1,228

0.53

0.27

Walton

0

0

4

11

1

16

1,818

0.36

0.19

Washington

0

0

0

0

0

0

n/a

0.00

0.00

 

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

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