Riverside-San Bernardino Metro Foreclosure Activity Rises in July

 

Foreclosure filings up 3 percent from June

 

Foreclosure activity in the Riverside-San Bernardino metro area increased 3 percent in July to 13,058 properties with foreclosure filings, but was still 39 percent below the level reported in July 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“The Riverside-San Bernardino metro area reported another hike in foreclosure filings in July, once again bringing activity above the level reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Compounding the problem is the area’s alarming level of unemployment, which hit 15.3 percent in July.”

 

The Riverside-San Bernardino Metro Area had the fifth highest foreclosure total in the nation for the month among the top 206 large metro areas with populations exceeding 200,000 surveyed every month by RealtyTrac. One in every 112 Riverside-San Bernardino Metro Area housing units received a foreclosure filing in July, ranking fifth among the same 206 metro areas.

 

Riverside County posts metro area’s top foreclosure rate and total in July

One in every 109 housing units in Riverside County received a foreclosure filing in July, giving the county the top foreclosure rate in the metro area for the month. Reporting 7,068 properties with foreclosure filings in July, Riverside County also led the metro area in total foreclosure activity.

 

San Bernardino County posted the second highest rate, with one in every 115 housing units receiving a foreclosure filing during the month. Second highest total was also in San Bernardino County, reporting 5,990 properties with foreclosure filings.

 

State ranked top nationally in foreclosure filings

California reported 66,910 properties with foreclosure filings in July, giving it the top state total in the nation once again. This latest total represents a 3 percent decrease from the previous month and is 38 percent below the level reported in July 2009. One in every 200 California housing units received a foreclosure filing during the month, the fourth highest state foreclosure rate in the nation.

 

State is top contributor to nation’s monthly foreclosure total

California accounted for 21 percent of the 325,229 properties with foreclosure filings reported nationwide in July. Total U.S. activity increased by more than 3 percent from the previous month, but was down almost 10 percent from the level reported in July 2009. One in every 397 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 Top Foreclosure Rates by County – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

n/a

n/a

California

26,848

0

26,191

0

13,871

66,910

200

1.98

n/a

Riverside-San Bernardino MSA

5,269

0

4,968

0

2,821

13,058

112

3.56

n/a

 

 

 

 

 

 

 

 

 

 

Riverside

2,884

0

2,645

0

1,539

7,068

109

3.65

1.84

San Bernardino

2,385

0

2,323

0

1,282

5,990

115

3.46

1.74

 

 

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

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

3.63

-9.70

California

26,848

0

26,191

0

13,871

66,910

200

-3.19

-38.11

Riverside-San Bernardino MSA

5,269

0

4,968

0

2,821

13,058

112

3.04

-39.27

 

 

 

 

 

 

 

 

 

 

Riverside

2,884

0

2,645

0

1,539

7,068

109

-2.64

-41.32

San Bernardino

2,385

0

2,323

0

1,282

5,990

115

10.66

-36.65

 

 

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