INDIANA FORECLOSURES INCREASE 19 PERCENT IN MAY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 36 Percent From a Year Ago; State’s Foreclosure Rate Ranks No. 9

 

IRVINE, Calif. – June 15, 2007 – Indiana reported 4,755 foreclosure filings in May, a 19 percent increase from the previous month and a 36 percent increase 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.

 

In Indiana, foreclosures are accelerating briskly due to slow economic growth and continued job losses in the high-paying manufacturing sector,” said James J. Sacaccio, chief executive officer of RealtyTrac. “Moreover, the Indiana real estate market remains sluggish. Sales of existing homes dropped 10 percent last month. The growing inventory of unsold homes will put additional pressure on homeowners in foreclosure who are trying to sell their homes.”

 

Indiana ranked 11th in the country in total foreclosures reported for May. The state’s foreclosure rate of one foreclosure filing for every 531 households ranked ninth among the 50 states and was 1.2 times the national average.

 

Marion County accounts for highest share of state total

Marion County reported the highest foreclosure total for the month, with 1,880 foreclosure filings. Lake County came in second, reporting 509 foreclosure filings, followed by Allen County with 441 foreclosure filings.

 

Hancock County also posts highest foreclosure rate

Hancock County posted the highest foreclosure rate in Indiana for May, one foreclosure filing for every 203 households — 2.6 times the state average and 3.2 times the national average. Marion County’s foreclosure rate was close behind, with one foreclosure filing for every 206 households — 2.6 times the state average and 3.2 times the national average. Fayette County posted the third highest foreclosure rate, one foreclosure filing for every 268 households — nearly twice the state average and 2.5 times the national average. 

 

State contributes 3 percent to national total

Total foreclosure filings in Indiana accounted for nearly 3 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 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.

 

 

                             Indiana Foreclosure Filings 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

Indiana

1,398

2,234

185

0

938

4,755

531

1.24

n/a

 

 

 

 

 

 

 

 

 

 

Adams

14

7

0

0

0

21

591

1.11

0.89

Allen

213

156

0

0

72

441

315

2.08

1.68

Bartholomew

0

53

0

0

0

53

563

1.16

0.94

Benton

0

0

0

0

0

0

n/a

0.00

0.00

Blackford

0

11

0

0

0

11

560

1.17

0.94

Boone

0

1

0

0

0

1

17,929

0.03

0.03

Cass

2

1

0

0

7

10

1,662

0.39

0.32

Clark

2

11

0

0

0

13

3,167

0.20

0.16

Clay

0

3

0

0

0

3

3,699

0.17

0.14

Crawford

0

0

0

0

0

0

n/a

0.00

0.00

Daviess

0

0

0

0

4

4

2,975

0.22

0.17

De Kalb

0

6

0

0

0

6

2,691

0.24

0.19

Dearborn

0

27

0

0

0

27

659

0.99

0.80

Decatur

0

2

0

0

0

2

4,996

0.13

0.10

Delaware

0

2

0

0

0

2

25,516

0.02

0.02

Dubois

0

1

0

0

0

1

15,511

0.04

0.03

Elkhart

1

92

0

0

33

126

538

1.22

0.98

Fayette

0

41

0

0

0

41

268

2.45

1.98

Floyd

1

36

0

0

0

37

786

0.83

0.67

Fountain

0

0

0

0

0

0

n/a

0.00

0.00

Franklin

1

1

0

0

0

2

4,298

0.15

0.12

Fulton

0

3

0

0

0

3

3,041

0.21

0.17

Gibson

0

17

0

0

1

18

785

0.83

0.67

Grant

0

20

0

0

0

20

1,528

0.42

0.34

Greene

0

1

0

0

0

1

15,053

0.04

0.03

Hamilton

6

77

0

0

20

103

626

1.04

0.84

Hancock

1

65

0

0

41

107

203

3.22

2.61

Harrison

0

2

0

0

0

2

6,850

0.09

0.07

Hendricks

1

0

0

0

1

2

19,615

0.03

0.02

Henry

2

5

0

0

0

7

2,942

0.22

0.18

Howard

1

3

0

0

36

40

940

0.69

0.56

Huntington

1

6

0

0

0

7

2,181

0.30

0.24

Jasper

0

1

0

0

2

3

3,745

0.17

0.14

Jay

1

1

0

0

1

3

3,025

0.21

0.17

Jefferson

0

0

0

0

0

0

n/a

0.00

0.00

Jennings

2

1

0

0

0

3

3,823

0.17

0.13

Johnson

0

77

0

0

0

77

586

1.12

0.90

Knox

0

4

0

0

0

4

4,326

0.15

0.12

Kosciusko

0

14

0

0

1

15

2,146

0.30

0.24

La Porte

1

1

0

0

1

3

15,207

0.04

0.03

Lagrange

0

1

0

0

0

1

12,938

0.05

0.04

Lake

13

396

0

0

100

509

383

1.71

1.38

Lawrence

0

2

0

0

0

2

10,280

0.06

0.05

Madison

4

184

0

0

1

189

301

2.17

1.76

Marion

1,048

181

185

0

466

1,880

206

3.18

2.57

Marshall

0

10

0

0

6

16

1,131

0.58

0.46

Miami

0

2

0

0

7

9

1,700

0.38

0.31

Monroe

1

24

0

0

0

25

2,034

0.32

0.26

Montgomery

0

2

0

0

1

3

5,226

0.12

0.10

Morgan

10

4

0

0

3

17

1,524

0.43

0.34

Newton

0

1

0

0

0

1

5,726

0.11

0.09

Noble

21

18

0

0

0

39

468

1.40

1.13

Ohio

0

0

0

0

0

0

n/a

0.00

0.00

Orange

5

1

0

0

0

6

1,391

0.47

0.38

Owen

0

0

0

0

0

0

n/a

0.00

0.00

Parke

0

8

0

0

0

8

942

0.69

0.56

Perry

5

0

0

0

0

5

1,645

0.39

0.32

Porter

0

36

0

0

9

45

1,280

0.51

0.41

Putnam

2

1

0

0

18

21

643

1.02

0.82

Randolph

1

16

0

0

11

28

421

1.56

1.26

Ripley

0

4

0

0

0

4

2,621

0.25

0.20

Scott

0

6

0

0

0

6

1,623

0.40

0.32

Shelby

1

1

0

0

8

10

1,763

0.37

0.30

Spencer

9

1

0

0

0

10

833

0.78

0.63

St. Joseph

11

245

0

0

42

298

359

1.82

1.47

Starke

0

1

0

0

0

1

10,201

0.06

0.05

Steuben

1

8

0

0

0

9

1,926

0.34

0.27

Switzerland

0

0

0

0

0

0

n/a

0.00

0.00

Tippecanoe

2

38

0

0

25

65

898

0.73

0.59

Tipton

0

1

0

0

0

1

6,848

0.09

0.07

Union

0

7

0

0

1

8

385

1.70

1.38

Vanderburgh

2

219

0

0

0

221

345

1.90

1.53

Vermillion

0

1

0

0

0

1

7,405

0.08

0.07

Vigo

1

12

0

0

1

14

3,229

0.20

0.16

Wabash

1

1

0

0

0

2

7,017

0.09

0.07

Warrick

7

6

0

0

0

13

1,580

0.41

0.33

Washington

0

11

0

0

0

11

1,017

0.64

0.52

Wayne

0

22

0

0

13

35

871

0.75

0.61

Wells

0

11

0

0

6

17

645

1.01

0.82

White

0

1

0

0

0

1

12,083

0.05

0.04

Whitley

3

2

0

0

0

5

2,509

0.26

0.21

 

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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