Top Metro Foreclosure Rates in Q2

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It was a little bit of déjà vu and a little bit of new for the nation’s top metro foreclosure rates in the second quarter of 2006.

 

Indianapolis, Atlanta and Dallas posted the nation’s three highest metropolitan foreclosure rates, duplicating the top three metro foreclosure rates from the previous quarter, according to the RealtyTrac™ U.S. Metropolitan Foreclosure Market Report, which tracks foreclosures in the nation’s 100 largest metropolitan areas.

 

Three other cities — Denver, Memphis, Tenn., and San Antonio — also registered foreclosure rates among the nation’s 10 highest for the second quarter in a row, but the remaining four cities in the top 10 were new: Stockton, Calif., Salt Lake City and the Texas cities of Austin and Houston.

 

“Four Texas cities now have foreclosure rates ranking among the top 10 thanks to increasing foreclosures in Austin and Houston during the second quarter,” said James J. Saccacio, chief executive officer of RealtyTrac. “But the increase in those two cities was not the norm. The majority of metros we track, along with the nation as a whole, reported fewer foreclosures compared to the previous quarter.”

 

Of the cities with the 10 highest foreclosure rates, Houston, Austin and Stockton, Calif., were the only ones to report increasing foreclosure activity in the second quarter. Houston led the way with 11,659 properties entering some stage of foreclosure, a 40 percent increase from the previous quarter. Austin reported a 7 percent increase, and Stockton reported a 2 percent increase.

 

Indianapolis, Atlanta and Dallas all documented second-quarter foreclosure rates that were more than three times the national average, and the remainder of the top 10 cities documented foreclosure rates that were more than twice the national average. With 18,290 properties entering some stage of foreclosure during the quarter, Dallas reported the highest number of new foreclosure filings among the 100 largest metros.

 

Top 10 Metro Foreclosure Rates – Q2 2006

 

Metro Area

% of households in foreclosure

#households for every foreclosure

/National Avg.

1. Indianapolis

0.987

101

3.532

2. Atlanta

0.904

111

3.235

3. Dallas

0.891

112

3.188

4. Denver

0.784

128

2.807

5. Austin, Texas

0.706

142

2.528

6. Houston

0.691

145

2.472

7. Memphis, Tenn.

0.682

147

2.440

8. Stockton, Calif.

0.649

154

2.323

9. Salt Lake City

0.607

165

2.171

8. San Antonio

0.601

166

2.151

 

 

While the majority of the 100 largest metros documented decreasing foreclosure activity in the second quarter, there were some notable exceptions. Chicago reported a 60 percent increase from the previous quarter, and the city’s foreclosure rate of one new foreclosure filing for every 198 households ranked 17th highest. San Francisco reported a 23 percent increase in foreclosure activity, and Washington-Baltimore reported a 6 percent increase in foreclosure activity, but foreclosure rates in both cities ranked among the bottom 50.

 

Foreclosure rates in Los Angeles and New York City ranked 50th and 54th respectively, and foreclosure activity declined in both metropolitan areas during the second quarter. New York reported 15,195 properties entering some stage of foreclosure during the quarter, a 12 percent decrease from the previous quarter, and Los Angeles reported 11,973 properties entering some stage of foreclosure, a 22 percent decrease from the previous quarter.

 

The RealtyTrac 2006 U.S. Metropolitan Foreclosure Market Report provides the total number of properties entering some stage of foreclosure in each of the nation’s 100 largest Metropolitan Statistical Areas. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures – Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures – Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been re-purchased by a bank).

 

 

Metropolitan foreclosure statistics for the nation’s 100 largest MSAs – Q2 2006

 

Foreclosure rate rank

MSA

Q2 2006 Total

1/every #households

/Natl Avg

%Change from Q1

US

272,109

425

-15.78

1

Indianapolis, IN

6,878

101

3.532

-32.036

2

Atlanta, GA

12,926

111

3.235

-36.497

3

Dallas-Fort Worth, TX

18,290

112

3.188

-11.851

4

Denver-Boulder-Greeley, CO

7,778

128

2.807

-17.858

5

Austin-San Marcos, TX

3,504

142

2.528

7.222

6

Houston-Galveston-Brazoria, TX

11,659

145

2.472

39.528

7

Memphis, TN-AR-MS

3,849

147

2.440

-30.935

8

Stockton-Lodi, CA

1,228

154

2.323

2.163

9

Salt Lake City-Ogden, UT

2,954

165

2.171

-1.138

10

San Antonio, TX

3,298

166

2.151

-19.932

11

Miami-Fort Lauderdale, FL

9,277

172

2.084

14.164

12

Colorado Springs, CO

1,340

175

2.042

-11.726

13

Detroit-Ann Arbor-Flint, MI

11,854

186

1.921

-35.583

14

Albuquerque, NM

1,580

189

1.894

-4.474

15

Jacksonville, FL

2,434

195

1.834

-31.992

16

Canton-Massillon, OH

870 

195

1.831

-28.571

17

Chicago-Gary-Kenosha, IL-IN-WI

17,467

198

1.806

60.057

18

Las Vegas, NV-AZ

3,485

200

1.792

-29.907

19.5

Cleveland-Akron, OH

6,205

201

1.782

-22.116

19.5

Modesto, CA

751

201

1.782

64.693

21

Fort Wayne, IN

989

209

1.716

-20.498

22

West Palm Beach-Boca Raton, FL

2,642

211

1.699

-1.271

23

Columbus, OH                                   

3,087

220

1.624

-32.920

24

Tulsa, OK

1,539

222

1.613

-8.881

25

Portland-Salem, OR-WA

3,943

228

1.570

188.864

26

Sacramento-Yolo, CA

3,124

229

1.564

24.264

27

Orlando, FL

2,923

237

1.513

-18.851

28

Little Rock-North Little Rock, AR

1,047

246

1.457

-29.732

29

Augusta-Aiken, GA-SC

753

248

1.442

-16.054

30

Oklahoma City, OK

1,923

260

1.378

-21.027

31

Dayton-Springfield, OH

1,575

270

1.325

-40.745

32

Lakeland-Winter Haven, FL

830

273

1.312

-28.263

33

Lansing-East Lansing, MI

637

285

1.254

-17.700

34

Toledo, OH

951

305

1.172

-31.087

35

Tampa-St. PetersburgClearwater, FL

3,654

313

1.144

-22.716

36

Grand RapidsMuskegon

1,375

325

1.100

-15.019

37

Phoenix-Mesa, AZ

4,054

328

1.090

-5.852

38

El Paso, TX

670

335

1.068

-13.548

39

Charlotte-Gastonia-Rock Hill, NC-SC

1,852

338

1.059

-36.684

40

Tucson, AZ

986

372

0.962

-17.765

41

Fresno, CA

822

379

0.945

54.221

42

Philadelphia-Wilmington-Atlantic City, PA-NJ-DE-MD

5,424

384

0.932

-32.921

43

San Diego, CA

2,596

401

0.893

-7.451

44.5

Louisville, KY-IN

1,040

407

0.879

12.311

44.5

Saginaw-Bay City-Midland, MI

407

407

0.879

-26.799

46

Kalamazoo-Battle Creek, MI

448

428

0.835

-29.449

47

Hartford, CT*

1,198

431

0.831

68.732

48

Cincinnati-Hamilton, OH-KY-IN

1,919

434

0.824

-13.714

49

Pittsburgh, PA

2,476

436

0.822

-37.820

50

Los Angeles-Riverside-Orange County, CA

11,973

453

0.790

-22.122

51

Seattle-Tacoma-Bremerton, WA

2,760

467

0.767

-10.273

52

Raleigh-Durham-Chapel Hill, NC

1,061

467

0.766

-37.293

53

St. Louis, MO-IL*

2,434

470

0.761

-36.615

54

New York-No. New JerseyLong Island, NY-NJ-CT-PA

15,195

494

0.725

-12.142

55

Sarasota-Bradenton, FL

649

494

0.724

-19.077

56

Nashville, TN

1,145

501

0.715

-45.424

57

Pensacola, FL

346

502

0.713

-30.522

58

Kansas City, MO-KS*

1,459

539

0.664

-24.871

59

Chattanooga, TN-GA

379

542

0.661

-45.231

60

Youngstown-Warren, OH

464

545

0.656

-64.114

61

San FranciscoOaklandSan Jose, CA

4,103

557

0.643

23.102

62

Greenville-Spartanburg-Anderson, SC

780

566

0.632

-20.892

63

Melbourne-Titusville-Palm Bay, FL

381

583

0.614

-28.518

64

Wichita, KS*

400

596

0.600

124.719

65

Bakersfield, CA

386

600

0.597

-27.170

66

Daytona Beach, FL

342

620

0.577

-49.632

67

Knoxville, TN

495

659

0.543

-40.217

68

Springfield, MA*

383

722

0.496

140.881

69

Greensboro–Winston-Salem–High Point, NC

767

751

0.476

-29.826

70

Milwaukee-Racine, WI

904

767

0.467

-27.680

71

Birmingham, AL

512

824

0.434

175.269

72

Des Moines, IA

225

886

0.404

-38.187

73

Minneapolis-St. Paul, MN-WI*

1,300

958

0.374

28.586

74

Spokane, WA

179

978

0.366

-50.278

75

Buffalo-Niagara Falls, NY

504

1,015

0.353

11.258

76

Syracuse, NY

307

1,021

0.350

42.791

77

Charleston-North Charleston, SC

210

1,109

0.323

-60.302

78

Johnson City-Kingsport-Bristol, TN-VA

158

1,182

0.303

-39.231

79.5

Rochester, NY

381

1,185

0.302

-55.954

79.5

Harrisburg-Lebanon-Carlisle, PA

183

1,186

0.302

-33.935

81

Boston-Worcester-Lawrence-Lowell-Brockton, MA-NH*  

1,823

1,243

0.288

181.762

82

Providence-Warwick-Pawtucket, RI*

327

1,345

0.266

3533.333

83

Columbia, SC

129

1,374

0.260

-53.597

84

Santa BarbaraSanta Maria-Lompoc, CA

102

1,401

0.255

-27.143

85

Albany-Schenectady-Troy, NY

255

1,515

0.236

174.194

86

Allentown-Bethlehem-Easton, PA

140

1,901

0.188

-37.500

87

Washington-Baltimore, DC-MD-VA-WV

1,509

1,977

0.181

5.598

88

Lancaster, PA

88

2,045

0.175

-61.572

89

Omaha, NE-IA

146

2,116

0.169

-72.453

90

Honolulu, HI

145

2,179

0.164

85.897

91

McAllen-Edinburg-Mission, TX

75

2,569

0.139

-52.830

92

Madison, WI

64

2,819

0.127

220.000

93

Norfolk-Virginia Beach-Newport News, VA-NC

219

2,843

0.126

-5.195

94

Mobile, AL

70

3,420

0.105

79.487

95

Baton Rouge, LA

79

3,470

0.103

19.697

96

Richmond-Petersburg, VA

105

4,144

0.086

-27.083

97

Lexington, KY

35

5,008

0.071

-7.895

98

New Orleans, LA

117

5,171

0.069

14.706

99

Jackson, MS

32

6,142

0.058

-20.000

100

Scranton–Wilkes-Barre–Hazleton, PA

35

8,014

0.045

-89.362

 

*RealtyTrac implemented new or improved data acquisition methods in this MSA during Q2 2006, meaning the actual rate of change from the previous quarter may be different than what our data indicates.

 

 

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