NATIONAL FORECLOSURES DECREASE 10 PERCENT IN APRIL

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Foreclosures Up 32 Percent From Last Year Despite Decreasing for Second Straight Month

Colorado, Utah, Texas Post Highest Foreclosure Rates

 

Irvine, Calif. – May 16, 2006 – RealtyTrac (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its April 2006 U.S. Foreclosure Market Report, which shows 91,168 properties nationwide entered some stage of foreclosure in April, a 10 percent decrease from the previous month but a 32 percent increase from April 2005. The report shows an April national foreclosure rate of one foreclosure filing for every 1,268 U.S. households.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with more than 600,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, AOL Real Estate and Knight Ridder Online.

 

“Foreclosure filings have decreased 23 percent over the past two months after shooting up 40 percent in the first two months of the year,” said James J. Saccacio, chief executive officer of RealtyTrac. “While the national foreclosure rate is still higher than it was in any month last year, this two-month downward trend indicates that housing markets in most areas of the country have remained strong enough to hold foreclosures in check despite rising interest rates and slowing home price appreciation.”

 

Colorado posts nation’s highest foreclosure rate

Colorado posted the nation’s highest foreclosure rate for the second month in a row even though the state’s foreclosure activity decreased 31 percent from the previous month. A total of 3,706 Colorado properties entered some stage of foreclosure in April, a foreclosure rate of one foreclosure filing for every 494 households and an increase of 43 percent from April 2005.

 

Utah documented one foreclosure filing for every 542 households in April, and the state’s foreclosure rate ranked as the nation’s second highest after being fourth highest the previous month. The state reported 1,418 properties entering some stage of foreclosure, a 1 percent decrease from the previous month but a 40 percent increase from April 2005.

 

Texas foreclosure filings increased in April, ending two straight months of decreases and boosting the state’s foreclosure rate to one foreclosure filing for every 582 households — third highest among all the states and more than twice the national average. A total of 13,829 Texas properties entered some stage of foreclosure in April, a 16 percent increase from the previous month and a 22 percent increase from April 2005.

 

Indiana and Georgia also posted foreclosure rates among the nation’s five highest and more than twice the national average in April. Indiana reported 4,309 properties entering some stage of foreclosure, a 13 percent decrease from the previous month but a 61 percent increase from April 2005, and Georgia reported 5,150 properties entering some stage of foreclosure, a 33 percent decrease from the previous month but more than three times the number reported in April 2005.

 

States with most new foreclosures

Texas documented the most foreclosures filings of any state for the fifth month in a row and accounted for 15 percent of foreclosure filings nationwide.

 

Despite a dip in foreclosure activity, California documented the second most foreclosure filings of any state for the second straight month and accounted for nearly 10 percent of the nationwide total. A total of 8,839 California properties entered some stage of foreclosure in April, a 20 percent decrease from the previous month but a 91 percent increase from April 2005. The state’s foreclosure rate of one foreclosure filing for every 1,382 households dropped below the national average.

 

Florida foreclosure activity decreased for the third straight month, but the state still documented the third most foreclosure filings of any state, with 8,350 properties entering some stage of foreclosure. That was a 10 percent decrease from the previous month and a 21 percent decrease from April 2005. The state’s foreclosure rate of one foreclosure filing for every 875 households continued to register above the national average and among the nation’s 10 highest state foreclosure rates.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide and by state over the preceding month. Data is also available at the individual county level. 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).

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-growingprivate companies, RealtyTrac Inc. (realtytrac.com),is the leading online marketplace for foreclosure properties, providing all theresources that home seekers, investors and real estate agents need to locate,evaluate and buy properties below market value.Founded in 1996, RealtyTracpublishes the largest and most comprehensive national database ofpre-foreclosure, foreclosure, For Sale By Owner, resale and new homes, withmore than 1 million properties across the country, property reports,productivity tools and extensive professional resources. RealtyTrac hostsnearly 3 million unique visitors monthly and has been chosen to supplyforeclosure data to MSN Real Estate, Yahoo! Real Estate and The Wall StreetJournal’s Real Estate Journal. For current news and information regardingforeclosure-related issues and trends, visit our blog at www.ForeclosurePulse.com.

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Order Customized Reports
Detailed and historical foreclosure data used to create the above report may bepurchased through the RealtyTrac Data Licensing Department at 949.502.8300 Ext.158. Aggregate data is available at the state, metro, county and zip codelevels dating back to 2005, and address-level foreclosure records are alsoavailable historically.

Media Contacts:
Michelle Schneider
949.502.8300 Ext. 139
michelle.schneider@realtytrac.com

Christine Stricker
949.502.8300 Ext. 268
christine.stricker@realtytrac.com

Detailed & Historical Data:
Tyler White
949.502.8300 Ext. 158
tyler.white@realtytrac.com


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