U.S. Foreclosures Lower in June, Still Up From Last Year

A total of 88,195 U.S. properties entered some stage of foreclosure during June, a decrease of 5 percent from the previous month, but still a 17 percent increase from June 2005, according to the RealtyTrac™ 2006 Monthly U.S. Foreclosure Market Report, which also shows a national foreclosure rate of one new foreclosure filing for every 1,311 U.S. households during the month.

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“New U.S. foreclosures dropped to their lowest level of the year in June, despite some of the sensational and misleading figures that we’ve seen reported recently,” said James J. Saccacio, chief executive officer of RealtyTrac. “We think it’s irresponsible to present falsely-inflated numbers to the media for commercial gain as we’ve seen happen recently. The fact is that most states, with the notable exception of California, Ohio and Nevada, reported decreased numbers of foreclosure filings in June.”

Colorado, Nevada and Georgia post top foreclosure rates
Despite posting the nation’s highest foreclosure rate for the fourth month in a row, Colorado foreclosure activity declined in June. The state reported 3,695 properties entering some stage of foreclosure, a 12 percent decrease from the previous month but still a 61 percent year-over-year increase from June 2005. With one new foreclosure filing for every 495 households, the state’s foreclosure rate was 2.7 times the national average.

Nevada’s foreclosure rate jumped from seventh highest to second highest in the nation thanks to a 13 percent increase in foreclosures from the previous month. The state reported 1,244 properties entering some stage of foreclosure, more than twice the number reported in June 2005 and a foreclosure rate of one new foreclosure filing for every 697 households — 1.9 times the national average.

Georgia reported 4,390 properties entering some stage of foreclosure, a decrease of 24 percent from the previous month and a decrease of 11 percent from June 2005, but the state’s foreclosure rate of one new foreclosure filing for every 705 households still ranked as the third highest in the country.

Texas, California and Florida report most foreclosures
Texas foreclosure activity decreased 22 percent from the previous month, but the state still reported more new foreclosure filings than any other state for the seventh month in a row. A total of 11,355 Texas properties entered some stage of foreclosure in June, a foreclosure rate of one new foreclosure filing for every 709 households — the nations’ fourth highest rate and more than 1.8 times the national average.

With 10,031 properties entering some stage of foreclosure, a 15 percent increase from the previous month, California leapfrogged past Florida to document the second most foreclosure filings of any state in June. California’s foreclosure rate of one new foreclosure filing for every 1,218 households inched above the national average for the first time in three months.

Florida reported 8,605 properties entering some stage of foreclosure in June, the third most of any state despite a 3 percent decrease from the previous month and a 12 percent year-over-year decrease from June 2005. The state’s foreclosure rate of one new foreclosure filing for every 849 households ranked eighth highest in the nation and was 1.5 times the national average.

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes entering some stage of foreclosure nationwide and by state over the preceding month. Data is also available at the individual county level. 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 foreclosed on and repurchased by a bank).

U.S. Foreclosure Market Statistics by State – June 2006

 

Rate Rank

State Name

NODs

NTSs

NFSs

LISs

REOs

Total

1 for every #HH

%Change from May 2006

%Change from June 2005

US

21,866

38,382

2,966

9,598

15,383

88,195

1,311

-4.91

16.91

37

Alabama

5

144

0

0

138

287

6,841

-21.58

-73.40

31

Alaska

5

29

0

0

15

49

4,188

-43.02

-66.44

12

Arizona

163

1,533

318

30

87

2,131

1,027

7.30

1.67

18

Arkansas

17

687

0

0

131

835

1,405

6.51

-11.08

15

California

8,456

1,284

0

0

291

10,031

1,218

14.82

114.11

1

Colorado

55

2,975

0

0

665

3,695

495

-11.98

60.72

16

Connecticut

940

121

0

0

1

1,062

1,305

54.14

30.31

32

Delaware

4

75

0

0

1

80

4,288

788.89

185.71

47

DC

0

1

0

0

10

11

24,986

22.22

-65.63

8

Florida

0

0

1,141

7,276

188

8,605

849

-3.29

-12.00

3

Georgia

17

3,334

0

0

1,039

4,390

705

-23.90

-10.65

45

Hawaii

7

13

0

0

2

22

20,934

-83.21

-67.65

28

Idaho

12

122

0

0

11

145

3,626

-24.87

-35.27

7

Illinois

3,940

1,274

0

0

666

5,880

832

-7.53

56.18

9

Indiana

946

1,428

0

0

598

2,972

850

-14.94

38.81

40

Iowa

15

17

0

0

135

167

7,381

-4.57

30.47

27

Kansas

133

219

0

0

25

377

2,992

-7.37

148.03

35

Kentucky

246

35

0

0

77

358

4,890

-30.89

-43.80

43

Louisiana

10

86

0

0

40

136

13,847

-13.92

-61.69

51

Maine

2

2

0

0

1

5

130,378

-16.67

66.67

33

Maryland

7

447

0

0

12

466

4,597

79.23

-27.75

23

Mass.

31

1,139

0

0

4

1,174

2,233

100.34

209.76

10

Michigan

112

2,781

0

0

1,960

4,853

870

-4.20

60.01

29

Minnesota

8

426

0

0

109

543

3,808

52.96

241.51

46

Mississippi

1

36

0

0

17

54

23,497

-3.57

-84.21

24

Missouri

31

444

0

0

475

950

2,565

-33.24

30.49

39

Montana

3

51

0

0

4

58

7,105

-10.77

52.63

38

Nebraska

5

80

0

0

18

103

6,976

-31.33

28.75

2

Nevada

941

260

0

0

43

1,244

697

12.78

122.54

50

New Hampshire

1

4

0

0

4

9

60,780

-30.77

-30.77

14

New Jersey

2,016

753

0

0

96

2,865

1,155

47.30

-10.36

19

New Mexico

353

158

0

0

26

537

1,454

0.19

45.14

22

New York

0

0

1,507

2,292

108

3,907

1,966

-15.25

34.08

25

North Carolina

570

85

0

0

688

1,343

2,621

-19.68

-7.95

48

North Dakota

0

0

0

0

9

9

32,185

-55.00

-52.63

6

Ohio

88

3,782

0

0

2,072

5,942

805

13.42

48.92

17

Oklahoma

354

524

0

0

222

1,100

1,359

-22.15

-7.56

13

Oregon

723

621

0

0

37

1,381

1,054

-16.76

194.46

21

Pennsylvania

848

1,694

0

0

267

2,809

1,869

22.40

28.74

30

Rhode Island

0

115

0

0

0

115

3,825

13.86

1816.67

26

South Carolina

27

349

0

0

231

607

2,887

12.62

-8.03

44

South Dakota

0

16

0

0

0

16

20,201

-30.43

300.00

11

Tennessee

17

1,372

0

0

1,015

2,404

1,020

-1.56

1.48

4

Texas

78

7,808

0

0

3,469

11,355

709

-21.72

-16.62

5

Utah

407

416

0

0

134

957

803

-13.94

4.70

49

Vermont

1

7

0

0

0

8

36,798

100.00

166.67

42

Virginia

1

177

0

0

52

230

12,549

-33.53

-17.27

20

Washington

115

1,236

0

0

89

1,440

1,661

-4.70

33.70

41

West Virginia

1

58

0

0

17

76

11,113

7.04

22.58

36

Wisconsin

154

135

0

0

66

355

6,487

-43.83

-0.28

34

Wyoming

0

29

0

0

17

46

4,866

109.09

206.67


 

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