TENNESSEE FORECLOSURES DECREASE 12 PERCENT IN JUNE

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 39 Percent From June 2006

 

IRVINE, Calif. – July 31, 2007 – Tennessee reported 3,349 foreclosure filings in June, a 12 percent decrease from the previous month, but still 39 percent above the number reported in June 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million 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.

 

“For most of 2007, Tennessee has managed to keep foreclosure activity down despite its elevated unemployment rate,” said James J. Saccacio, chief executive officer of RealtyTrac. “Foreclosures are a lagging indicator of economic growth, and based on the increase in activity compared to last year, it seems that foreclosure activity in Tennessee has caught up to match the state’s sluggish economy.”

 

Tennessee ranked 14th in the country in total foreclosures reported for June. The state’s foreclosure rate of one new foreclosure filing for every 728 households ranked 12th among the 50 states.

 

Shelby County accounts for nearly half of all foreclosure activity

Shelby County led the state in foreclosure activity for June, reporting 1,613 foreclosure filings. Davidson County reported the second highest foreclosure total, with 269 foreclosure filings. Knox County came in third, with 145 foreclosure filings for the month.

 

Shelby County also posts highest foreclosure rate

Shelby County also posted the highest foreclosure rate in the state, with one foreclosure filing for every 225 households — 3.2 times the state average and three times the national average. Hardeman County posted the second highest foreclosure rate in the state, with one foreclosure filing for every 238 households — 3.1 times the state average and three times the national average. Cannon County posted the third highest foreclosure rate, with one foreclosure filing for every 542 households — 1.3 times the state average and 1.3 times the national average.

 

State a contributor to national total

Total foreclosure filings in Tennessee accounted for 2 percent of the 164,644 foreclosure filings nationwide in June. The national total was down 7 percent from the previous month but still up 87 percent from June 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 704 U.S. households for 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.

 

 

                    Tennessee Foreclosure Market by County – June 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,048

51,492

12,488

38,247

26,369

164,644

704

n/a

n/a

Tennessee

696

1,892

0

0

761

3,349

728

0.97

n/a

 

 

 

 

 

 

 

 

 

 

Anderson

6

11

0

0

6

23

1,411

0.50

0.52

Bedford

3

10

0

0

4

17

882

0.80

0.83

Benton

2

2

0

0

2

6

1,433

0.49

0.51

Bledsoe

2

3

0

0

1

6

857

0.82

0.85

Blount

0

15

0

0

0

15

3,137

0.22

0.23

Bradley

11

16

0

0

15

42

877

0.80

0.83

Campbell

5

5

0

0

6

16

1,158

0.61

0.63

Cannon

4

3

0

0

3

10

542

1.30

1.34

Carroll

1

3

0

0

5

9

1,451

0.49

0.50

Carter

2

8

0

0

2

12

2,160

0.33

0.34

Cheatham

5

6

0

0

5

16

844

0.83

0.86

Chester

1

2

0

0

5

8

772

0.91

0.94

Claiborne

0

3

0

0

4

7

1,895

0.37

0.38

Clay

0

1

0

0

0

1

3,959

0.18

0.18

Cocke

0

8

0

0

3

11

1,440

0.49

0.51

Coffee

7

10

0

0

8

25

830

0.85

0.88

Crockett

1

1

0

0

1

3

2,046

0.34

0.36

Cumberland

2

4

0

0

3

9

2,494

0.28

0.29

Davidson

100

119

0

0

50

269

940

0.75

0.77

Decatur

1

2

0

0

4

7

921

0.76

0.79

Dekalb

0

2

0

0

0

2

4,205

0.17

0.17

Dickson

3

9

0

0

4

16

1,101

0.64

0.66

Dyer

5

5

0

0

6

16

1,008

0.70

0.72

Fayette

2

4

0

0

3

9

1,246

0.56

0.58

Fentress

2

0

0

0

4

6

1,266

0.56

0.58

Franklin

2

5

0

0

6

13

1,293

0.54

0.56

Gibson

7

6

0

0

6

19

1,108

0.64

0.66

Giles

2

5

0

0

0

7

1,873

0.38

0.39

Grainger

6

0

0

0

2

8

1,217

0.58

0.60

Greene

4

4

0

0

7

15

1,874

0.38

0.39

Grundy

0

1

0

0

0

1

6,282

0.11

0.12

Hamblen

5

9

0

0

10

24

1,029

0.68

0.71

Hamilton

15

71

0

0

44

130

1,036

0.68

0.70

Hardeman

3

2

0

0

40

45

238

2.96

3.07

Hardin

1

3

0

0

1

5

2,561

0.27

0.28

Hawkins

2

7

0

0

4

13

1,878

0.37

0.39

Haywood

0

3

0

0

3

6

1,348

0.52

0.54

Henderson

2

2

0

0

4

8

1,431

0.49

0.51

Henry

0

2

0

0

3

5

3,157

0.22

0.23

Hickman

1

3

0

0

4

8

1,113

0.63

0.65

Houston

1

0

0

0

0

1

3,901

0.18

0.19

Humphreys

2

0

0

0

1

3

2,827

0.25

0.26

Jackson

1

1

0

0

0

2

2,582

0.27

0.28

Jefferson

4

5

0

0

1

10

1,932

0.36

0.38

Johnson

0

0

0

0

4

4

1,970

0.36

0.37

Knox

28

76

0

0

41

145

1,182

0.60

0.62

Lake

0

0

0

0

2

2

1,358

0.52

0.54

Lauderdale

4

4

0

0

1

9

1,174

0.60

0.62

Lawrence

4

3

0

0

2

9

1,869

0.38

0.39

Lewis

2

2

0

0

3

7

689

1.02

1.06

Lincoln

3

4

0

0

0

7

2,000

0.35

0.36

Loudon

7

5

0

0

3

15

1,152

0.61

0.63

Macon

0

2

0

0

1

3

2,965

0.24

0.25

Madison

4

20

0

0

15

39

980

0.72

0.74

Marion

1

2

0

0

4

7

1,734

0.41

0.42

Marshall

0

3

0

0

4

7

1,597

0.44

0.46

Maury

2

11

0

0

9

22

1,303

0.54

0.56

Mcminn

7

8

0

0

8

23

940

0.75

0.77

Mcnairy

3

5

0

0

6

14

801

0.88

0.91

Meigs

0

2

0

0

1

3

1,729

0.41

0.42

Monroe

2

9

0

0

5

16

1,080

0.65

0.67

Montgomery

7

31

0

0

3

41

1,272

0.55

0.57

Morgan

2

1

0

0

1

4

1,929

0.37

0.38

Obion

0

2

0

0

2

4

3,622

0.19

0.20

Overton

0

0

0

0

1

1

9,168

0.08

0.08

Perry

0

0

0

0

1

1

4,115

0.17

0.18

Polk

1

1

0

0

0

2

3,685

0.19

0.20

Putnam

3

8

0

0

2

13

2,070

0.34

0.35

Rhea

1

4

0

0

4

9

1,396

0.50

0.52

Roane

1

4

0

0

4

9

2,597

0.27

0.28

Robertson

2

12

0

0

12

26

808

0.87

0.90

Rutherford

30

60

0

0

32

122

579

1.22

1.26

Scott

0

2

0

0

0

2

4,455

0.16

0.16

Sequatchie

2

4

0

0

1

7

702

1.00

1.04

Sevier

5

10

0

0

12

27

1,380

0.51

0.53

Shelby

296

1,085

0

0

232

1,613

225

3.13

3.24

Smith

0

2

0

0

1

3

2,555

0.28

0.29

Stewart

0

0

0

0

0

0

n/a

0.00

0.00

Sullivan

1

20

0

0

2

23

3,002

0.23

0.24

Sumner

30

36

0

0

13

79

654

1.08

1.11

Tipton

1

9

0

0

8

18

1,059

0.66

0.69

Unicoi

0

2

0

0

0

2

4,107

0.17

0.18

Union

1

3

0

0

1

5

1,583

0.44

0.46

Van Buren

0

0

0

0

0

0

n/a

0.00

0.00

Warren

1

7

0

0

3

11

1,517

0.46

0.48

Washington

4

16

0

0

8

28

1,706

0.41

0.43

Wayne

0

2

0

0

2

4

1,675

0.42

0.43

Weakley

3

4

0

0

5

12

1,244

0.57

0.59

White

0

2

0

0

5

7

1,456

0.48

0.50

Williamson

11

10

0

0

6

27

1,741

0.40

0.42

Wilson

4

18

0

0

11

33

1,058

0.67

0.69

 

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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