UTAH FORECLOSURE ACTIVITY DOWN 15 PERCENT IN DECEMBER

Yearly Foreclosure Total Up 15 Percent From December 2006

 

IRVINE, Calif. – Jan. 25, 2008 – Utah reported 831 foreclosure filings in December, a 15 percent decrease from the previous month, but still a 15 percent increase from December 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.

 

“Although Utah foreclosures are up slightly from this time last year, the numbers appear to be heading downward,” said James J. Saccacio, chief executive officer of RealtyTrac. “At the end of the third quarter last year, Utah had the highest home price appreciation in the country. This, in addition to an unemployment rate nearly 2 percent below the national average, is undoubtedly contributing to the recent decrease.”

 

Utah ranked 28th in the country in total foreclosures reported for the month. The state’s foreclosure rate of one foreclosure filing for every 1,051 households ranked it 21st among the 50 states.

 

Salt Lake County leads state in foreclosure filings

Salt Lake County led Utah in total foreclosure activity in December, reporting 439 foreclosure filings for the month. Washington County tallied the second highest foreclosure total, reporting 110 foreclosure filings for the month. Davis County posted the third highest foreclosure total, reporting 108 foreclosure filings.

 

Washington County posts highest foreclosure rate

Washington County reported the highest county foreclosure rate in Utah for December, one foreclosure filing for every 443 households — 2.4 times the state average. Wasatch County reported the second highest foreclosure rate, one foreclosure filing for every 511 households — 2.1 times the state average. Box Elder County posted the fourth highest foreclosure rate, one filing for every 654 households — 1.6 times the state average.

 

State contributes less than 1 percent to nation’s monthly total

Total foreclosure filings in Utah accounted for less than 1 percent of the 215,749 foreclosure filings reported nationwide in December. The national total represents a 7 percent increase from the previous month, and is 97 percent above the total reported for December 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 577 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.

 

 

Utah Foreclosure Market by County – December 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

Households per Filing

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

46,182

54,280

18,488

47,945

48,854

215,749

577

n/a

n/a

Utah

64

672

0

0

95

831

1,051

0.55

n/a

 

 

 

 

 

 

 

 

 

 

Beaver

0

0

0

0

0

0

n/a

0.00

0.00

Box Elder

0

22

0

0

2

24

654

0.88

1.61

Cache

0

5

0

0

1

6

5,596

0.10

0.19

Carbon

0

0

0

0

0

0

n/a

0.00

0.00

Daggett

0

0

0

0

0

0

n/a

0.00

0.00

Davis

2

90

0

0

16

108

801

0.72

1.31

Duchesne

1

0

0

0

0

1

7,594

0.08

0.14

Emery

0

0

0

0

0

0

n/a

0.00

0.00

Garfield

0

0

0

0

0

0

n/a

0.00

        0.00

Grand

0

0

0

0

0

0

n/a

0.00

0.00

Iron

0

0

0

0

1

1

16,137

0.04

0.07

Juab

0

0

0

0

0

0

n/a

0.00

0.00

Kane

0

0

0

0

0

0

n/a

0.00

0.00

Millard

0

0

0

0

0

0

n/a

0.00

0.00

Morgan

0

0

0

0

0

0

n/a

0.00

0.00

Piute

0

0

0

0

0

0

n/a

0.00

0.00

Rich

0

0

0

0

0

0

n/a

0.00

0.00

Salt Lake

40

365

0

0

34

439

769

0.75

1.37

San Juan

0

0

0

0

0

0

n/a

0.00

0.00

Sanpete

1

0

0

0

0

1

8,457

0.75

1.37

Sevier

0

0

0

0

0

0

n/a

0.00

0.00

Summit

0

0

0

0

0

0

n/a

0.00

0.00

Tooele

0

19

0

0

1

20

849

0.68

1.24

Uintah

0

0

0

0

0

0

n/a

0.00

0.00

Utah

17

64

0

0

9

90

1,415

0.41

0.74

Wasatch

0

15

0

0

1

16

511

1.13

2.05

Washington

1

81

0

0

28

110

443

1.30

2.37

Wayne

0

0

0

0

0

0

n/a

0.00

0.00

Weber

2

11

0

0

2

15

5,221

0.11

0.20

 

 

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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