OKLAHOMA FORECLOSURES DECREASE 15 PERCENT IN MAY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Down 34 Percent From a Year Ago

 

IRVINE, Calif. – June 15, 2007 – Oklahoma reported 928 foreclosure filings in May, a 15 percent decrease from the previous month, and a 34 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.

 

Oklahoma foreclosures have decreased both in May of this year and as well as in May of last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Recent statistics show the state’s home price appreciation rate is above the national average. This is likely contributing to the overall decline.”

 

Oklahoma ranked 26th in the country in total foreclosures reported for May. The state’s foreclosure rate of one foreclosure filing for every 1,632 households ranked it 26th among the 50 states.

 

Tulsa County accounts for largest share of state total

Tulsa County reported the highest foreclosure total for the month, reporting 341 foreclosure filings. Oklahoma County posted the second highest foreclosure total, with 327 foreclosure filings. Canadian and Cleveland counties posted the third highest foreclosure total, each reporting 60 foreclosure filings. Pottawatomie County reported the fourth highest foreclosure total, with 35 foreclosure filings.

 

Canadian County posts highest foreclosure rate

Canadian County posted the highest foreclosure rate in Oklahoma for May, reporting one foreclosure filing for every 566 households — 2.9 times the state average and 1.2 times the national average. Tulsa County reported the second highest foreclosure rate, with one foreclosure filing for every 715 households — 2.3 times the state average. Pottawatomie County posted the third highest foreclosure rate with one filing for every 780 households — 2.1 times the state average. Oklahoma County reported the fourth highest foreclosure rate, with one foreclosure filing for every 902 households — 1.8 times the state average. Mayes County posted the fifth highest foreclosure rate, with one filing for every 917 households — 1.8 times the state average.

 

State contributes 1 percent to national total

Total foreclosure filings in Oklahoma accounted for 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 657 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.

 

                          Oklahoma 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

Oklahoma

318

375

0

0

235

928

1,632

0.40

n/a

 

 

 

 

 

 

 

 

 

 

Adair

0

0

0

0

0

0

n/a

0.00

0.00

Alfalfa

1

0

0

0

0

1

2,832

0.23

0.58

Blaine

0

1

0

0

0

1

5,308

0.12

0.31

Canadian

24

21

0

0

15

60

566

1.1

2.88

Carter

0

0

0

0

0

0

n/a

0.00

0.00

Cherokee

1

1

0

0

0

2

9,750

0.07

0.17

Cleveland

28

3

0

0

29

60

1,414

0.46

1.15

Comanche

0

2

0

0

0

2

22,708

0.03

0.07

Craig

0

0

0

0

0

0

n/a

0.00

0.00

Creek

0

1

0

0

0

1

27,986

0.02

0.06

Delaware

0

0

0

0

0

0

n/a

0.00

0.00

Garfield

1

1

0

0

0

2

13,024

0.05

0.13

Garvin

1

1

0

0

0

2

6,321

0.10

0.26

Grady

0

3

0

0

0

3

6,481

0.10

0.25

Haskell

1

0

0

0

0

1

5,573

0.12

0.29

Jackson

0

2

0

0

0

2

6,189

0.11

0.26

Kay

0

0

0

0

0

0

n/a

0.00

0.00

Kingfisher

1

0

0

0

1

2

2,940

0.22

0.56

Latimer

0

1

0

0

0

1

4,709

0.14

0.35

Le Flore

0

0

0

0

0

0

n/a

0.00

0.00

Lincoln

0

0

0

0

0

0

n/a

0.00

0.00

Logan

2

1

0

0

2

5

2,781

0.24

0.59

Marshall

0

0

0

0

0

0

n/a

0.00

0.00

Mayes

14

0

0

0

5

19

917

0.72

1.78

McClain

0

4

0

0

0

4

2,797

0.23

0.58

McIntosh

0

0

0

0

0

0

n/a

0.00

0.00

Oklahoma

88

205

0

0

34

327

902

0.73

1.81

Osage

1

0

0

0

0

1

18,826

0.03

0.09

Ottawa

1

0

0

0

0

1

14,842

0.04

0.11

Pawnee

0

3

0

0

3

6

1,244

0.53

1.31

Payne

0

0

0

0

0

0

n/a

0.00

0.00

Pittsburg

0

2

0

0

0

2

10,760

0.06

0.15

Pontotoc

0

1

0

0

0

1

15,575

0.04

0.11

Pottawatomie

2

26

0

0

7

35

780

0.84

2.09

Rogers

12

0

0

0

9

21

1,308

0.50

1.25

Sequoyah

0

2

0

0

0

2

8,470

0.08

0.19

Tulsa

129

89

0

0

123

341

715

0.92

2.28

Wagoner

10

4

0

0

7

21

1,104

0.59

1.48

Washington

1

1

0

0

0

2

11,125

0.06

0.15

 

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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