NATIONAL FORECLOSURES INCREASE 28 PERCENT IN JANUARY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

More Than 100,000 New Pre-Foreclosures and Foreclosures Reported.

Georgia, Nevada and Colorado Post Highest Foreclosure Rates.

 

Irvine, Calif. – Feb. 21, 2006 – RealtyTrac (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its January 2006 Monthly U.S. Foreclosure Market Report, which shows 104,354 properties nationwide entered some stage of foreclosure in January, a 28 percent increase from the previous month and a 46 percent increase from January 2005. The report shows a January national foreclosure rate of one new foreclosure for every 1,108 U.S. households, continuing an upward trend in which the national foreclosure rate rose in every quarter of 2005.

 

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

 

“This is the first time since we introduced the report in January of 2005 that we’ve seen back-to-back months with increases of more than 20 percent,” noted James J. Saccacio, chief executive officer of RealtyTrac. “While some of this might have to do with the seasonality of normal real estate cycles, it appears that rising interest rates and softening home prices are beginning to push foreclosure inventories closer to the historic average of one percent of all U.S. households.”

 

Georgia has top state foreclosure rates

After dipping in December, Georgia foreclosures spiked higher in January. The state reported 7,342 properties entering some stage of foreclosure, more than twice the number reported in December. Georgia documented the highest foreclosure rate among the 50 states — one new foreclosure for every 422 households.

 

With one new foreclosure for every 483 households, Nevada documented the second highest foreclosure rate among the 50 states. The state reported 1,795 properties entering some stage of foreclosure, a 60 percent increase from December and more than two times the number reported in January 2005.

 

With a total of 3,747 properties entering some stage of foreclosure, new foreclosures in Colorado nearly tripled from December to January and increased 36 percent year over year. The state recorded one new foreclosure for every 488 households — the third highest foreclosure rate among the 50 states.

 

Foreclosure rates in Texas and Indiana were among the nation’s five highest for the second month in a row, and new foreclosures increased in both states in January. Texas reported 14,669 properties entering some stage of foreclosure, a 15 percent increase from the previous month and one new foreclosure for every 549 households. Indiana reported 4,419 properties entering some stage of foreclosure, a 30 percent increase from the previous month and one foreclosure for every 571 households.

 

States with most new foreclosures

Along with Texas and Georgia, the five states reporting the most new foreclosures in January included Florida, California and Ohio. Florida reported 10,334 properties entering some stage of foreclosure, a 28 percent increase from the previous month and the second most new foreclosures of any state. Florida‘s foreclosure rate of one new foreclosure for every 707 households was 1.6 times the national average.

 

California registered a foreclosure rate below the national average despite documenting the third most new foreclosures of any state. The state reported 9,354 properties entering some stage of foreclosure, a 22 percent increase from the previous month and a 62 percent year-over-year increase.

 

Ohio reported 8,268 properties entering some stage of foreclosure, the fourth most of any state and a 22 percent increase from the previous month. Ohio‘s foreclosure rate of one foreclosure for every 578 households was 1.9 times the national average.

 

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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