ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT
State’s Activity Level Down 31 Percent From a Year Ago
IRVINE, Calif. – Jan. 15, 2007 – Hawaii reported 43 properties entering some stage of the foreclosure process in December, down 42 percent from the 74 properties reported in November, and a 31 percent decrease from the 62 properties reported for the same month last year, according to the RealtyTrac™ U.S. Foreclosure Market Report.
RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 700,000 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.
“Hawaii has been reporting robust job growth, which may be a contributing factor in the state’s decrease in foreclosure activity,” said James J. Saccacio, chief executive officer of RealtyTrac. “Mortgage credit quality within the state generally remains strong.”
Hawaii ranked 43rd in the country in total foreclosures reported for December. The state’s foreclosure rate of one new foreclosure filing for every 10,710 households ranked 43rd among the 50 states.
Honolulu County accounts for largest share of state total
Honolulu County reported the largest share of Hawaii’s foreclosure activity in December, with 30 properties entering some stage of the foreclosure process during the month. Maui County reported the second highest total with six properties in some stage of foreclosure. Hawaii County posted the third highest foreclosure activity with five properties entering the foreclosure pipeline.
State’s top foreclosure rate found in Maui County
Maui County posted the state’s highest foreclosure rate for December, with one new foreclosure filing for every 9,396 households — 1.1 times the state average. Honolulu County reported the second highest foreclosure rate, with one new foreclosure filing for every 10,533 households — on par with the state average.
State makes minor contribution to national total
Hawaii’s foreclosure activity accounted for less than 1 percent of the 109,652 properties entering some stage of foreclosure nationwide in December. The national total represents a 9 percent decrease from the 120,334 foreclosures reported in November. The nation’s foreclosure rate decreased to one new foreclosure filing for every 1,055 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: 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).
For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.
Hawaii Foreclosure Market by County – December 2006
1 in every # households
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 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.
Atomic Public Relations