UTAH FORECLOSURES DECREASE 25 PERCENT IN MARCH

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Down 56 Percent From a Year Ago

 

IRVINE, Calif. – April 23, 2007 – Utah reported 636 foreclosure filings in March, a 25 percent decrease from the previous month, and a 56 percent decrease from March 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 900,000 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.

 

Utah foreclosures have decreased both in March and from this time last year,” said James J. Saccaio, chief executive officer of RealtyTrac. “Statistics show that Utah — along with two other states — held the lowest unemployment rate in the nation in March. This is undoubtedly contributing to the overall decrease.”

 

Utah ranked 29th in the country in total foreclosures for March. The state’s foreclosure rate of one foreclosure filing for every 1,208 households ranks it 18th among the 50 states.

 

Salt Lake County accounts for largest share of state total

Salt Lake County reported the highest total for the month, with 294 foreclosure filings. Weber County reported the second highest total, with 157 foreclosure filings. Davis County reported the third highest total, with 91 foreclosure filings.

 

Weber County posts highest foreclosure rate

Weber County posted the highest foreclosure rate in Utah for March, reporting one foreclosure filing for every 449 households — 2.7 times the state average and 1.7 times the national average. Washington County reported the second highest rate, with one foreclosure filing for every 598 households — twice the state average and 1.3 times the national average. Salt Lake County posted the third highest foreclosure rate, with one filing for every 1,058 households. 

 

State contributes less than 1 percent to national total

Total foreclosure filings in Utah accounted for less than 1 percent of the 149,150 foreclosure filings nationwide. The national total was up almost 7 percent from the previous month, and surged 47 percent from March 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 775 U.S. households during 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 – March 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,135

51,203

8,906

19,416

22,491

149,150

775

n/a

n/a

Utah

256

353

0

0

27

636

1,208

0.64

n/a

 

 

 

 

 

 

 

 

 

 

Box Elder

0

0

0

0

0

0

n/a

0.00

0.00

Cache

0

10

0

0

0

10

2,904

0.27

0.42

Davis

12

45

0

0

4

91

1,215

0.64

0.99

Duchesne

0

1

0

0

0

1

6,988

0.11

0.17

Iron

0

1

0

0

0

1

13,618

0.06

0.09

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

Morgan

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

64

215

0

0

15

294

1,058

0.73

1.14

Sanpete

0

0

0

0

0

0

n/a

0.00

0.00

Sevier

0

5

0

0

0

5

1,403

0.55

0.86

Summit

1

0

0

0

0

1

17,489

0.04

0.07

Tooele

0

0

0

0

0

0

n/a

0.00

0.00

Utah

9

32

0

0

1

42

2,484

0.31

0.49

Wasatch

0

3

0

0

0

3

2,188

0.35

0.55

Washington

23

37

0

0

1

61

598

1.30

2.02

Weber

147

4

0

0

6

157

449

1.73

2.69

 

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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