Statewide filings slide 86 percent from second half of 2010
Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported 148
Foreclosure filings were reported on 19 of the district’s properties in June, down 50 percent from May and down 93 percent from June 2010. One in every 15,007 housing units within the district received a foreclosure filing in June.
District a minor contributor to nation’s foreclosure total in first half of 2011
The district accounted for less than 1 percent of
“It would be nice to report that foreclosure activity is dropping as a result of improvements in the economy or the housing market,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unfortunately, with unemployment rates inching back up, consumer confidence weak and home sales and prices continuing to languish, this doesn’t appear to be the case.
“Processing and procedural delays are pushing foreclosures further and further out – we estimate that as many as 1 million foreclosure actions that should have taken place in 2011 will now happen in 2012, or perhaps even later. This casts an ominous shadow over the housing market, where recovery is unlikely to happen until the current and forthcoming inventory of distressed properties can be whittled down to a manageable number.”
The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the
For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.
Total Properties with Filings
% Housing Units
1 every X HU
% chg July-Dec 10
% chg Jan-June 2010
1/every X HU (rate)
% Chg May 11
% Chg June 10