Riverside-San Bernardino Metro Foreclosure Activity Rises in October

Filing numbers  up 9 percent from September

Foreclosure  filings — Default notices, scheduled auctions and bank repossessions — were  reported on 9,425 properties in the Riverside-San Bernardino metro area in October, a 9 percent increase from September, but still 25 percent below the  level reported for October 2010, according to the latest RealtyTrac® U.S. Foreclosure Market  Report.

One in every 155  of the metro area’s housing units had a foreclosure filing in October 2011, the  fourth highest foreclosure rate among the 211 metro areas with populations  exceeding 200,000 surveyed every month by RealtyTrac.

San Bernardino County posts top foreclosure rate in  the metro area for October
One in every 154 housing units in San Bernardino County had a foreclosure filing in October — 3.7 times the  national average and 1.6 times the state average — the highest foreclosure rate  of all Metro area counties for the month. Riverside County had the second  highest rate of one in every 157 housing units with a foreclosure filing during  the month — 3.6 times the national average and 1.6 times the state  average. 

Riverside County has metro area’s highest  foreclosure total in October
Riverside County tallied  the highest level of foreclosure activity in the metro area, reporting 4,949 properties with foreclosure filings for the month. San Bernardino County was second  highest, reporting 4,476 properties with foreclosure filings.

State foreclosure  activity up in October
California reported 55,312 properties with foreclosure filings in October 2011. This latest total represents a 7 percent increase from September, but is still 17 percent below the level  reported in October 2010. One in every 243 California housing units received a  foreclosure filing in October, the second highest state foreclosure rate in the nation.

State is top contributor to total foreclosure  activity in October
California accounted for 24  percent of the 230,678 properties with foreclosure filings reported nationwide in October. Total U.S. activity increased by more than 7 percent from September,  but was down nearly 31 percent from the level reported in October 2010. One in every 563 U.S. housing units received a foreclosure filing during the month.

“The October foreclosure numbers continue to show  strong signs that foreclosure activity is coming out of the rain delay we’ve  been in for the past year as lenders corrected foreclosure paperwork and  processing problems,” said James Saccacio, chief executive officer of  RealtyTrac. “However, recent state court rulings and new state laws keep  changing the rules of the foreclosure game on the fly, creating more  uncertainty in the housing market and threatening to prolong the road to a robust real estate recovery.”

           Riverside-San Bernardino metro area Top Foreclosure RatesBy County – October 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

38,451

39,282

59,380

25,941

67,624

230,678

563

n/a

n/a

California

29,240

0

16,302

0

9,770

55,312

243

2.32

n/a

Riverside-San Bernardino MSA

5,058

0

2,706

0

1,661

9,425

155

3.63

n/a

 

 

 

 

 

 

 

 

 

 

San Bernardino

2,419

0

1,266

0

791

4,476

154

3.66

1.58

Riverside

2,639

0

1,440

0

870

4,949

157

3.60

1.55

           Riverside-San Bernardino metro area Top Foreclosure Totalsby County – October 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Sep 11

% Chg Oct 10

 

 

 

 

 

 

 

 

 

 

United States

38,451

39,282

59,380

25,941

67,624

230,678

563

7.36

-30.55

California

29,240

0

16,302

0

9,770

55,312

243

6.69

-16.79

Riverside-San Bernardino MSA

5,058

0

2,706

0

1,661

9,425

155

9.25

-24.80

 

 

 

 

 

 

 

 

 

 

Riverside

2,639

0

1,440

0

870

4,949

157

1.52

-23.84

San Bernardino

2,419

0

1,266

0

791

4,476

154

19.30

-25.84

 

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