NATIONAL FORECLOSURES DECREASE 12 PERCENT IN NOVEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Fewer Foreclosures in Most Gulf Coast States Help Deflate National Numbers

Colorado, Georgia and Florida Post Highest Foreclosure Rates in the Country

 

 

Irvine, Calif. – Dec. 19, 2005 – RealtyTrac (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its November 2005 Monthly U.S. Foreclosure Market Report, which shows 71,573 properties nationwide entered some stage of foreclosure in November, a 12 percent decrease from the previous month. The report shows a November national foreclosure rate of one foreclosure for every 1,616 U.S. households.

 

RealtyTrac publishes the largest national database of pre-foreclosure and foreclosure properties, with more than 550,000 properties from over 2,400 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, AOL Real Estate and HomeGain.com.

 

“After reaching their highest level of the year in October, foreclosures in November retreated closer to the levels we saw earlier this fall and in the summer,” said James J. Saccacio, chief executive officer of RealtyTrac. “While fewer foreclosures in most of the Gulf Coast states contributed to this, it also continues the trend of seeing the national foreclosure rate drop the month after a significant spike.”

 

Florida was the only Gulf Coast state with increasing foreclosures in November. The state reported 8,872 properties entering some stage of foreclosure, a 16 percent increase and the most foreclosures reported by any state. Florida‘s foreclosure rate of one foreclosure for every 824 households was the third highest in the country.

 

Colorado and Georgia registered the nation’s two highest foreclosure rates. Colorado reported 2,687 properties entering some stage of foreclosure, a 4 percent increase and a foreclosure rate of one foreclosure for every 681 households. Georgia reported 4,416 properties entering some stage of foreclosure, a 28 percent increase and a foreclosure rate of one foreclosure for every 701 households.

 

Foreclosure rates in Ohio and Indiana also ranked among the five highest nationwide thanks to increasing foreclosures. Ohio reported 4,968 properties entering some stage of foreclosure, a 6 percent increase and a foreclosure rate of one foreclosure for every 963 households. Indiana reported 2,800 properties entering some stage of foreclosure, a 32 percent increase and a foreclosure rate of one foreclosure for every 902 households.

 

Foreclosures moved higher in California and New York, although both states maintained foreclosure rates below the national average. California reported 6,051 new foreclosures, a 29 percent increase, and New York reported 4,702 new foreclosures, a 33 percent increase.

 

The extension of a foreclosure moratorium in areas affected by hurricanes Katrina and Rita may have contributed to lower foreclosure numbers in several Gulf Coast states. Texas foreclosures decreased 52 percent, with 7,912 properties entering some stage of foreclosure in November. The state’s foreclosure rate — one foreclosure for every 1,017 households — ranked below the five highest in the country for the first time since July. Even with the steep decline, Texas still reported more foreclosures than any state except Florida.

 

Louisiana foreclosures decreased 42 percent in November, and the state’s foreclosure rate — one foreclosure for every 13,078 households — remained far below the national average. Alabama and Mississippi registered even lower foreclosure rates thanks to foreclosures decreasing 23 percent in Alabama and more than 76 percent in Mississippi.  

 

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 fourth-largest real estate site by Nielsen NetRatings, 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 and new construction properties, with more than 550,000 properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts close to 3 million unique visitors monthly and has been chosen to supply foreclosure data to AOL Real Estate, MSN Real Estate, Yahoo! Real Estate and HomeGain.com. For more information, visit www.realtytrac.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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