UTAH FORECLOSURES INCREASE 27 PERCENT IN APRIL

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Down 43 Percent From a Year Earlier

 

IRVINE, Calif. – May 18, 2007 – Utah reported 808 foreclosure filings in April, a 27 percent increase in activity from the previous month, and a 43 percent decrease from April 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report. The state posted the 15th highest foreclosure rate in the country for the month, with one foreclosure filing for every 951 households.

 

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.

 

“Though foreclosure activity in Utah has increased compared to last month, delinquencies among prime and subprime borrowers in the state have improved and foreclosure activity remains lower than it was at the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac.

 

Utah ranked 28th in the country in total foreclosures reported for April.

 

Bulk of state total found in three counties

Foreclosure filings in three Utah counties accounted for 77 percent of all foreclosure activity in the state for April. Salt Lake County led the state, reporting 322 foreclosure filings for the month. Weber County came in second, reporting 167 foreclosure filings. Davis County posted the third highest foreclosure total, reporting 135 foreclosure filings.

 

Weber County leads state in foreclosure rate for the month

Weber County posted the highest foreclosure rate in the state for April, with one foreclosure filing for every 422 households — 2.3 times the state average and 1.9 times the national average. Davis County tallied the state’s second highest rate, with one foreclosure filing for every 549 households — 1.7 times the state average and 1.4 times the national average. Washington County posted the third highest foreclosure rate, with one foreclosure filing for every 618 households — 1.5 times the state average and 1.3 times the national average.

 

State makes minimal contribution to national total

Total foreclosure filings in Utah accounted for less than 1 percent of the 147,708 filings nationwide in April. The national total was down less than 1 percent from the previous month, but still up 62 percent from April 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 783 U.S. households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. 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 – April 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,171

49,794

7,388

21,085

22,270

147,708

783

n/a

n/a

Utah

211

523

0

0

74

808

951

0.82

n/a

 

 

 

 

 

 

 

 

 

 

Box Elder

1

0

0

0

0

1

14,209

0.06

0.07

Cache

0

6

0

0

1

7

4,148

0.19

0.23

Carbon

0

0

0

0

0

0

n/a

0.00

0.00

Davis

65

60

0

0

10

135

549

1.43

1.73

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

0

0

n/a

0.00

0.00

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

93

217

0

0

12

322

966

0.81

0.98

Sanpete

0

0

0

0

0

0

n/a

0.00

0.00

Sevier

0

3

0

0

0

3

2,339

0.33

0.41

Summit

0

0

0

0

0

0

n/a

0.00

0.00

Tooele

0

1

0

0

1

2

6,906

0.11

0.14

Uintah

0

1

0

0

0

1

9,040

0.09

0.11

Utah

17

84

0

0

7

108

966

0.81

0.98

Wasatch

0

3

0

0

0

3

2,188

0.36

0.43

Washington

32

24

0

0

3

59

618

1.27

1.54

Weber

3

124

0

0

40

167

422

1.86

2.25

 

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 construction properties, 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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