HAWAII FORECLOSURES INCREASE 95 PERCENT IN MAY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Down 2 Percent From a Year Earlier

 

IRVINE, Calif. – June 15, 2007 – Hawaii reported 129 foreclosure filings in May, a 95 percent increase in activity from the previous month, and a 2 percent decrease from May 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.

 

Hawaii has been reporting robust job growth, with the lowest unemployment rate seen in Honolulu,” said James J. Saccacio, chief executive officer of RealtyTrac. “Interestingly, Honolulu County has reported the most foreclosure activity within the state.”

 

Hawaii ranked 45th in the country in total foreclosures reported for May. The state posted the 40th highest foreclosure rate in the country for the month — one foreclosure filing for every 3,570 households.

 

Honolulu leads state in foreclosure activity

Honolulu County documented the highest foreclosure total in Hawaii in May, reporting 74 foreclosure filings. Maui and Hawaii documented the second highest foreclosure total, each reporting 19 foreclosure filings for the month.

 

Kauai County leads state in foreclosure rate for the month

Kauai County posted the highest foreclosure rate in the state for May, with one foreclosure filing for every 1,490 households — 2.4 times the state average. Maui County tallied the state’s second highest foreclosure rate, with one foreclosure filing for every 2,967 households — 1.2 times the state average. Hawaii County posted the third highest foreclosure rate, with one foreclosure filing for every 3,299 households.

 

State makes small contribution to national total for May

Total foreclosure filings in Hawaii accounted for less than 1 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 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.

 

 

                             Hawaii 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

Hawaii

7

115

0

0

7

129

3,570

0.18

n/a

 

 

 

 

 

 

 

 

 

 

Hawaii

1

17

0

0

1

19

3,299

0.20

1.08

Honolulu

6

67

0

0

1

74

4,270

0.15

0.84

Kauai

0

12

0

0

5

17

1,490

0.44

2.40

Maui

0

19

0

0

0

19

2,967

0.22

1.20

 

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).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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