New Foreclosure Hot Spots Emerge in Q3 2009

Las Vegas, Merced and Cape Coral-Fort Myers Register Top Metro Foreclosure Rates;
High Foreclosure Rates Spreading to New Metros in Several States

Cities in California, Florida, Nevada and Arizona accounted for all but one of the top 20 metro foreclosure rates in the third quarter among metro areas with a population of 200,000 or more. But one city in the Top 20 was a surprise. Boise City-Nampa, Idaho, posted the nation’s 19th highest metro foreclosure rate, with one in every 57 housing units receiving a foreclosure filing during the quarter — more than twice the national average. Foreclosure activity in Boise increased nearly 142 percent from the third quarter of 2008.

Five of the Top 10 metro areas reported decreasing foreclosure activity from the third quarter of 2008, while many other metro areas with Top 50 foreclosure rates reported sharp increases in foreclosure activity.

“Rising unemployment and a new variety of mortgage resets continued to gradually shift the nation’s foreclosure epicenters in the third quarter away from the hot spots of the last two years and toward some metro areas that had avoided the brunt of the first foreclosure wave,” said James J. Saccacio, chief executive officer of RealtyTrac. “While toxic subprime mortgages drove much of that first wave of foreclosures, high unemployment and exotic Alt-A Option ARMs are spreading the foreclosure flood to more metro areas in 2009.”

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New foreclosure hot spots flare up
Among the top 50 metro foreclosure rates, the three biggest year-over-year increases were in Boise City-Nampa, Idaho, and Provo-Orem and Salt Lake City in Utah. In several states the largest increases were posted in cities not previously a focal point for foreclosure activity. The Chico metro area posted the biggest year-over-year increase in California, with foreclosure activity up 98 percent from the third quarter of 2008. The medium-sized metro about 100 miles north of Sacramento had a 12.8 percent unemployment rate in August, above the state and national averages.
 
A similar trend was seen in cities like Reno-Sparks, Nev., with an 80 percent year-over-year increase in foreclosure activity, Prescott, Ariz., with a 77 percent increase, Jacksonville, Fla., with a 64 percent increase, Rockford, Ill., with a 64 percent increase, and Lansing-East Lansing, Mich., with a 41 percent increase. 

Top metro foreclosure rates
Las Vegas posted the nation’s highest metro foreclosure rate, with 5.13 percent (one in 20) of its housing units receiving a foreclosure filing during the quarter — nearly seven times the national average. A total of 40,408 Las Vegas properties received a foreclosure filing during the quarter, an increase of nearly 9 percent from the previous quarter and an increase of nearly 54 percent from the third quarter of 2008.

Despite a 13 percent decrease in foreclosure activity from the previous quarter, Merced, Calif., posted the nation’s second highest foreclosure rate, with 3.72 percent (one in 27) of its housing units receiving a foreclosure filing during the third quarter. A total of 3,092 Merced properties received a foreclosure filing during the quarter, down 11 percent from the third quarter of 2008.

Foreclosure activity in the Cape Coral-Fort Myers metro area in Florida also decreased from the previous quarter and from the third quarter of 2008, but the metro area still registered the nation’s third highest metro foreclosure rate — with 3.67 percent (one in 27) of its housing units receiving a foreclosure filing during the quarter. A total of 13,206 Cape Coral-Fort Myers properties received a foreclosure filing during the quarter, a decrease of 5 percent from the previous quarter and  down 2 percent from the third quarter of 2008.

Other metro areas in the top 10 were the California cities of Stockton (3.53 percent), Modesto (3.39 percent), Riverside-San Bernardino (3.37 percent), Bakersfield (2.88 percent), and Vallejo-Fairfield (2.85 percent), along with the Reno-Sparks metro area in Nevada (2.67 percent) and the Florida metro areas of Port St. Lucie (2.63 percent) and Orlando-Kissimmee (2.57 percent).

Report methodology
The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the third quarter of 2009. Data is also available at the individual county level and MSA level. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default — Notice of Default (NOD) and Lis Pendens (LIS); Auction — 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). If more than one foreclosure document is filed against a property during the quarter, only the most recent filing is counted in the report.

 

U.S. Metro Foreclosure Market Data – Q3 2009

 

    Properties with Foreclosure Filings
Rate Rank Metro Name Total %Housing Units 1/every X HU %Change from Q2 09 %Change from Q3 08

U.S. Total

937,840

0.73

136

5.40

22.50

1

Las Vegas-Paradise, NV Total

40,408

5.13

20

8.82

53.62

2

Merced, CA Total

3,092

3.72

27

-13.32

-11.12

3

Cape Coral-Fort Myers, FL Total

13,206

3.67

27

-5.19

-2.19

4

Stockton, CA Total

8,000

3.53

28

1.63

-3.05

5

Modesto, CA Total

5,883

3.39

30

-3.03

-0.12

6

Riverside-San Bernardino-Ontario, CA Total

48,416

3.37

30

-7.91

11.83

7

Bakersfield, CA Total

7,753

2.88

35

-7.64

14.25

8

Vallejo-Fairfield, CA Total

4,266

2.85

35

-3.83

-3.37

9

Reno-Sparks, NV Total

4,787

2.67

37

14.17

80.44

10

Port St. Lucie, FL Total

5,434

2.63

38

28.19

40.05

11

Orlando-Kissimmee, FL Total

22,700

2.57

39

5.07

41.92

12

Phoenix-Mesa-Scottsdale, AZ Total

40,566

2.43

41

4.72

18.56

13

Sacramento–Arden-Arcade–Roseville, CA Total

19,068

2.25

44

1.89

19.10

14

Miami-Fort Lauderdale-Pompano Beach, FL Total

53,710

2.23

45

-5.20

34.67

15

Fresno, CA Total

5,860

1.93

52

-7.75

16.48

16

Salinas, CA Total

2,537

1.82

55

-8.38

-20.89

17

Visalia-Porterville, CA Total

2,439

1.80

56

-9.16

26.24

18

Lakeland, FL Total

4,907

1.77

57

11.32

41.49

19

Boise City-Nampa, ID Total

4,157

1.76

57

22.16

141.55*

20

San Diego-Carlsbad-San Marcos, CA Total

18,519

1.63

61

-5.09

7.21

21

Provo-Orem, UT Total

2,316

1.63

61

10.87

119.94

22

Oxnard-Thousand Oaks-Ventura, CA Total

4,434

1.63

61

0.50

17.15

23

Los Angeles-Long Beach-Santa Ana, CA Total

69,403

1.58

63

2.07

32.38

24

Naples-Marco Island, FL Total

2,997

1.56

64

-15.65

-4.49

25

Deltona-Daytona Beach-Ormond Beach, FL Total

3,697

1.50

67

-6.81

27.70

26

Jacksonville, FL Total

8,654

1.48

68

1.80

63.50

27

Ocala, FL Total

2,342

1.47

68

-10.85

31.06

28

Santa Rosa-Petaluma, CA Total

2,898

1.47

68

2.04

19.51

29

Prescott, AZ Total

1,508

1.44

69

3.86

76.58

30

Sarasota-Bradenton-Venice, FL Total

5,528

1.42

71

-0.11

-6.59

31

Palm Bay-Melbourne-Titusville, FL Total

3,709

1.40

71

11.62

10.32

32

San Francisco-Oakland-Fremont, CA Total

22,876

1.35

74

6.56

22.06

33

Greeley, CO Total

1,234

1.33

75

9.01

23.52

34

Tampa-St. Petersburg-Clearwater, FL Total

17,012

1.29

77

-6.13

-4.99

35

San Jose-Sunnyvale-Santa Clara, CA Total

8,185

1.29

77

2.68

28.76

36

Fayetteville-Springdale-Rogers, AR-MO Total

2,250

1.23

82

4.65

53.27*

37

Chico, CA Total

1,156

1.22

82

33.80

97.61

38

Santa Barbara-Santa Maria-Goleta, CA Total

1,790

1.18

85

11.39

5.85

39

Atlanta-Sandy Springs-Marietta, GA Total

24,787

1.17

85

4.88

13.90

40

Detroit-Warren-Livonia, MI Total**

21,978

1.16

86

7.35

1.89

41

Salt Lake City, UT Total

4,231

1.08

93

28.52

105.19

42

Tucson, AZ Total

4,430

1.04

96

1.12

53.13

43

San Luis Obispo-Paso Robles, CA Total

1,155

1.00

100

1.76

53.18

44

Santa Cruz-Watsonville, CA Total

1,015

0.99

101

-11.51

12.40

45

Flint, MI Total**

1,787

0.91

110

5.61

25.93

46

Washington-Arlington-Alexandria, DC-VA-MD-WV Total

19,318

0.91

110

22.22

9.25

47

Denver-Aurora, CO Total

9,235

0.89

113

5.48

-1.58

48

Chicago-Naperville-Joliet, IL-IN-WI Total

33,065

0.88

113

6.79

28.46

49

Rockford, IL Total

1,224

0.85

117

24.14

63.86

50

Lansing-East Lansing, MI Total**

1,653

0.84

119

4.95

40.92

51

Pensacola-Ferry Pass-Brent, FL Total

1,637

0.83

120

13.05

23.27

52

Fort Collins-Loveland, CO Total

1,027

0.81

124

64.58

63.28

53

Cleveland-Elyria-Mentor, OH Total

7,309

0.77

129

11.30

-1.04

54

Grand Rapids-Wyoming, MI Total**

2,415

0.76

132

8.93

25.52

55

Memphis, TN-MS-AR Total

4,125

0.75

133

-4.11

-19.90

56

Colorado Springs, CO Total

1,926

0.75

133

1.21

15.95

57

Ogden-Clearfield, UT Total

1,317

0.74

134

-17.17

50.34

58

Minneapolis-St. Paul-Bloomington, MN-WI Total

9,767

0.74

136

13.54

98.68

59

Holland-Grand Haven, MI Total**

718

0.72

140

25.09

124.38

60

Atlantic City, NJ Total

885

0.70

143

33.28

9.26

61

Tulsa, OK Total

2,764

0.70

144

63.84

54.33*

62

Portland-Vancouver-Beaverton, OR-WA Total

6,123

0.69

145

4.88

78.36

63

Indianapolis-Carmel, IN Total

5,074

0.68

147

-15.26

-15.84

64

Canton-Massillon, OH Total

1,193

0.67

149

-10.70

-8.16

65

Toledo, OH Total

1,922

0.64

156

-5.69

-3.27

66

Worcester, MA Total

1,990

0.63

159

23.83

21.42

67

Salem, OR Total

913

0.62

160

4.58

77.97

68

Cincinnati-Middletown, OH-KY-IN Total

5,461

0.60

167

8.55

0.53

69

Charleston-North Charleston, SC Total

1,693

0.60

167

-0.06

11.16

70

Ann Arbor, MI Total**

880

0.60

167

20.05

-12.70

71

Charlotte-Gastonia-Concord, NC-SC Total

4,231

0.60

167

46.30

33.81

72

Savannah, GA Total

850

0.59

169

10.25

77.45

73

Milwaukee-Waukesha-West Allis, WI Total

3,833

0.58

171

2.73

24.61

74

Kansas City, MO-KS Total

4,960

0.58

174

26.92

15.43†

75

Gainesville, FL Total

654

0.57

176

9.73

64.74

76

Green Bay, WI Total

758

0.56

177

8.75

149.34*

77

Little Rock-North Little Rock-Conway, AR Total

1,605

0.55

183

44.46

35.79*

78

Macon, GA Total

558

0.54

184

-14.02

6.08

79

Trenton-Ewing, NJ Total

760

0.54

185

46.15

-20.83

80

Jackson, MS Total

1,189

0.54

185

63.10

599.41*

81

Akron, OH Total

1,637

0.53

188

-4.77

-46.69

82

Columbus, OH Total

4,102

0.53

188

-28.83

-33.19

83

Birmingham-Hoover, AL Total

2,622

0.53

190

-1.35

336.27*

84

Greenville-Mauldin-Easley, SC Total

1,412

0.53

190

16.41

176.86*

85

Tallahassee, FL Total

832

0.52

191

1.96

47.52

86

Dayton, OH Total

1,931

0.51

197

-24.36

-20.86

87

Youngstown-Warren-Boardman, OH-PA Total

1,316

0.50

199

4.94

25.69

88

Saginaw-Saginaw Township North, MI Total**

433

0.49

205

0.46

9.34

89

Bremerton-Silverdale, WA Total

488

0.48

207

11.93

40.63

90

Baltimore-Towson, MD Total

5,330

0.48

208

109.84

95.74

91

Kalamazoo-Portage, MI Total**

684

0.47

211

-7.07

31.29

92

Fort Wayne, IN Total

825

0.46

216

-14.06

-35.34

93

Springfield, MA Total

1,312

0.46

216

34.29

94.08

94

St. Louis, MO-IL Total

5,701

0.46

216

25.43

-12.63†

95

Seattle-Tacoma-Bellevue, WA Total

6,495

0.46

217

-11.21

37.75

96

Dallas-Fort Worth-Arlington, TX Total

10,700

0.45

221

4.85

7.86

97

Columbia, SC Total

1,401

0.45

222

9.11

77.34

98

Boulder, CO Total

551

0.45

224

34.39

45.77

99

Mobile, AL Total

791

0.44

226

-10.01

82.68*

100

Boston-Cambridge-Quincy, MA-NH Total

7,962

0.44

229

9.96

19.46

101

Richmond, VA Total

2,215

0.43

230

24.37

89.97

102

Reading, PA Total

690

0.43

232

10.40

16.16

103

Brownsville-Harlingen, TX Total

613

0.43

235

29.05

-1.61

104

Chattanooga, TN-GA Total

971

0.43

235

4.41

12.38††

105

Barnstable Town, MA Total

661

0.42

235

43.07

119.60

106

Eugene-Springfield, OR Total

632

0.42

236

3.44

62.05

107

Greensboro-High Point, NC Total

1,310

0.42

238

19.31

18.44

108

Virginia Beach-Norfolk-Newport News, VA-NC Total

2,850

0.42

239

-0.07

35.39†

109

Myrtle Beach-Conway-North Myrtle Beach, SC Total

703

0.42

239

-6.89

166.29*

110

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD Total

9,912

0.42

241

28.23

10.95

111

Des Moines-West Des Moines, IA Total

976

0.41

241

49.24

84.15*

112

Austin-Round Rock, TX Total

2,641

0.41

242

59.10

74.78

113

Albuquerque, NM Total

1,447

0.41

244

9.70

73.09*

114

Hagerstown-Martinsburg, MD-WV Total

460

0.41

245

39.39

109.09

115

New Orleans-Metairie-Kenner, LA Total

1,797

0.41

246

8.25

46.93

116

Appleton, WI Total

367

0.41

246

58.87

149.66*

117

Louisville/Jefferson County, KY-IN Total

2,217

0.41

246

10.46

7.26

118

South Bend-Mishawaka, IN-MI Total

562

0.40

248

-1.40

-25.37

119

Nashville-Davidson–Murfreesboro–Franklin, TN Total

2,572

0.40

249

17.60

3.21††

120

New Haven-Milford, CT Total

1,396

0.40

250

62.70

0.50

121

McAllen-Edinburg-Mission, TX Total

986

0.40

251

1,197.37

101.22

122

Bridgeport-Stamford-Norwalk, CT Total

1,394

0.40

251

78.72

6.66

123

Providence-New Bedford-Fall River, RI-MA Total

2,679

0.40

252

2.68

20.95

124

Houston-Sugar Land-Baytown, TX Total

8,482

0.39

256

1.48

-8.12

125

Winston-Salem, NC Total

804

0.39

257

15.52

-23.28

126

Anchorage, AK Total

543

0.39

258

39.95

29.90

127

Augusta-Richmond County, GA-SC Total

832

0.37

272

18.01

20.23

128

San Antonio, TX Total

2,764

0.37

274

4.50

20.23

129

Allentown-Bethlehem-Easton, PA-NJ Total

1,209

0.36

276

15.25

93.13*

130

York-Hanover, PA Total

627

0.36

278

-23.07

24.90

131

Sioux Falls, SD Total

329

0.36

278

116.45

196.40

132

Killeen-Temple-Fort Hood, TX Total

521

0.36

279

6.33

68.61

133

Honolulu, HI Total

1,186

0.35

282

24.84

85.89

134

Columbus, GA-AL Total

453

0.35

283

24.79

24.45

135

Manchester-Nashua, NH Total

558

0.34

290

-16.72

-15.96

136

Springfield, MO Total

623

0.34

294

0.00

0.48†

137

Raleigh-Cary, NC Total

1,428

0.34

298

17.63

11.65

138

New York-Northern New Jersey-Long Island, NY-NJ-PA Total

24,715

0.33

299

29.43

14.69

139

Olympia, WA Total

332

0.33

302

-19.22

17.31

140

Wichita, KS Total

851

0.33

303

13.92

51.69

141

Madison, WI Total

803

0.33

307

5.66

130.09*

142

Norwich-New London, CT Total

368

0.32

317

102.20

21.45

143

Oklahoma City, OK Total

1,639

0.31

318

79.13

-12.17

144

Montgomery, AL Total

486

0.31

322

-26.92

115.04*

145

Knoxville, TN Total

950

0.31

325

9.70

0.53††

146

Davenport-Moline-Rock Island, IA-IL Total

500

0.30

330

25.00

33.69

147

Topeka, KS Total

307

0.30

336

42.13

60.73

148

Hartford-West Hartford-East Hartford, CT Total

1,450

0.29

339

56.76

12.93

149

Shreveport-Bossier City, LA Total

498

0.29

346

54.66

277.27*

150

Fort Smith, AR-OK Total

350

0.28

352

-5.15

45.83*

151

Amarillo, TX Total

271

0.28

362

-1.45

12.92

152

Baton Rouge, LA Total

855

0.27

375

7.68

129.22*

153

Yakima, WA Total

220

0.27

376

59.42

84.87

154

Roanoke, VA Total

362

0.26

385

-16.97

1,192.86*

155

Huntsville, AL Total

433

0.26

386

-22.12

108.17*

156

Waco, TX Total

229

0.25

401

18.65

44.03

157

Pittsburgh, PA Total

2,671

0.24

414

-17.64

-20.34

158

Clarksville, TN-KY Total

246

0.23

442

-3.91

-17.17††

159

Cedar Rapids, IA Total

247

0.22

450

12.79

30.00

160

Lancaster, PA Total

409

0.21

474

-11.28

25.08

161

Corpus Christi, TX Total

361

0.21

487

7.76

-9.75

162

Buffalo-Niagara Falls, NY Total

1,068

0.21

488

15.84

-29.27

163

Gulfport-Biloxi, MS Total

218

0.20

492

139.56

1,457.14*

164

Springfield, IL Total

193

0.20

498

44.03

-8.53

165

Laredo, TX Total

138

0.20

502

2.22

32.69

166

Omaha-Council Bluffs, NE-IA Total

693

0.20

506

41.14

-28.56

167

Lafayette, LA Total

216

0.20

512

91.15

129.79*

168

Peoria, IL Total

316

0.19

515

19.25

-28.83

169

Champaign-Urbana, IL Total

184

0.19

529

31.43

75.24

170

Rochester, NY Total

758

0.17

583

-4.05

-32.56

171

Erie, PA Total

191

0.16

618

9.14

-21.72

172

Spartanburg, SC Total

188

0.16

642

18.99

-52.76

173

Binghamton, NY Total

172

0.16

643

-15.27

-1.71

174

Scranton–Wilkes-Barre, PA Total

396

0.15

652

43.48

-17.15

175

Harrisburg-Carlisle, PA Total

351

0.15

657

4.78

122.15

176

Evansville, IN-KY Total

241

0.15

662

10.55

-46.33

177

Lexington-Fayette, KY Total

296

0.15

685

16.08

-21.69

178

Poughkeepsie-Newburgh-Middletown, NY Total

355

0.14

693

-54.37

-64.43

179

Portland-South Portland-Biddeford, ME Total

352

0.14

723

0.28

-5.12

180

Beaumont-Port Arthur, TX Total

222

0.14

726

25.42

5.71

181

Duluth, MN-WI Total

185

0.14

740

25.00

-22.92

182

El Paso, TX Total

338

0.13

749

-30.88

-23.36

183

Houma-Bayou Cane-Thibodaux, LA Total

102

0.12

801

75.86

1,033.33*

184

Durham, NC Total

264

0.12

808

-42.86

-61.40

185

Huntington-Ashland, WV-KY-OH Total

161

0.12

822

19.26

75.00

186

Wilmington, NC Total

226

0.12

866

41.25

-37.05

187

Albany-Schenectady-Troy, NY Total

424

0.11

895

31.68

-23.33

188

Hickory-Lenoir-Morganton, NC Total

175

0.11

899

68.27

-25.85

189

Spokane, WA Total

198

0.10

985

23.75

-46.92

190

Tuscaloosa, AL Total

96

0.10

989

92.00

128.57*

191

Lubbock, TX Total

105

0.09

1,123

10.53

-39.66

192

Kingsport-Bristol-Bristol, TN-VA Total

122

0.08

1,191

-9.63

12.96

193

Longview, TX Total

64

0.08

1,324

-59.24

33.33

194

Asheville, NC Total

141

0.07

1,415

98.59

-32.54

195

Syracuse, NY Total

164

0.06

1,741

43.86

-40.79

196

Charleston, WV Total

82

0.06

1,773

26.15

241.67*

197

College Station-Bryan, TX Total

46

0.05

1,886

53.33

12.20

198

Kennewick-Richland-Pasco, WA Total

39

0.05

2,195

18.18

-72.14

199

Lincoln, NE Total

51

0.04

2,417

240.00

-69.09

200

Lynchburg, VA Total

41

0.04

2,631

-59.00

173.33

201

Fayetteville, NC Total

52

0.03

2,902

-42.86

-88.39

202

Burlington-South Burlington, VT Total

20

0.02

4,436

400.00

233.33*

203

Utica-Rome, NY Total

25

0.02

5,441

127.27

-3.85

*Actual increase may not be as high due to data collection changes or improvements
**Collection of records classified as NOD began in August 2009 because of change in state law
Collection of some records previously classified as NOD in this MSA was discontinued starting in January 2009
†† Collection of some records previously classified as NOD in this MSA was discontinued starting in September 2008

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