Riverside-San Bernardino Metro Area Foreclosure Activity

Metro area filings down 13 percent from December

 

Foreclosure activity in the Riverside-San Bernardino metro area fell in January to 13,375 properties with foreclosure filings, down 13 percent from the previous month and 24 percent below the level reported in January 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity slowed in the Riverside-San Bernardino Metro Area in January, with fewer filings reported both for the month as well as from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Although this recent improvement is great news for area residents, of critical concern is Riverside-San Bernardino’s high unemployment rate, which remains the second highest in the nation among major metropolitan areas.”

 

The Riverside-San Bernardino metro area had the fifth highest foreclosure total in the nation among the top 203 large metro areas with populations exceeding 200,000 surveyed every month by RealtyTrac. One in every 109 Riverside-San Bernardino metro area housing units received a foreclosure filing in January, ranking fifth among the same 203 metro areas.

 

San Bernardino County posts top foreclosure rate in the metro area for January

With one in every 108 housing units receiving a foreclosure filing — 3.8 times the national average and 1.7 times the state average — San Bernardino County posted the metro area’s highest county foreclosure rate in January. Riverside County had the second highest rate, with one in every 110 housing units receiving a foreclosure filing — 3.7 times the national average and 1.7 times the state average.

 

Riverside County led the metro area in total foreclosure filings for January

Riverside County led the metro area, totaling 6,991 properties with foreclosure filings in January. San Bernardino County was second highest, documenting 6,384 properties with foreclosure filings for the month.

 

State led nation in total foreclosure filings for January

California reported 71,817 properties with foreclosure filings in January, giving it the highest state total in the nation. This latest total represents an 11 percent decrease from the previous month and is 6 percent below the level reported in January 2009. One in every 187 California housing units received a foreclosure filing during the month, the third highest state foreclosure rate in the nation.

 

State is top contributor to nation’s foreclosure total in January

California accounted for 23 percent of the 315,716 properties with foreclosure filings reported nationwide in January. Total U.S. activity declined nearly 10 percent from the previous month but was still 15 percent ahead of January 2009. One in every 409 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. 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 received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

Riverside-San Bernardino Metro Area Top Foreclosure Rates By County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

n/a

n/a

California

24,234

0

30,582

0

17,001

71,817

187

2.19

n/a

Riverside-San Bernardino Metro Area

4,503

0

5,444

0

3,428

13,375

109

3.75

n/a

 

 

 

 

 

 

 

 

 

 

San Bernardino

2,318

0

2,492

0

1,574

6,384

108

3.80

1.73

Riverside

2,185

0

2,952

0

1,854

6,991

110

3.72

1.70

 

 

Riverside-San Bernardino Metro Area Top Foreclosure Totals by County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Dec 09

% Chg Jan 09

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

-9.67

15.06

California

24,234

0

30,582

0

17,001

71,817

187

-10.77

-6.44

Riverside-San Bernardino Metro Area

4,503

0

5,444

0

3,428

13,375

109

-12.56

-24.13

 

 

 

 

 

 

 

 

 

 

Riverside

2,185

0

2,952

0

1,854

6,991

110

-14.45

-28.86

San Bernardino

2,318

0

2,492

0

1,574

6,384

108

-10.39

-18.17

 

 

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