Thursday, July 12, 2007

RealtyTrac: Foreclosures up 87% from June 2006

A report from RealtyTrac. “ A total of 164,644 foreclosure filings -- default notices, auction sale notices and bank repossessions -- were reported during the month, down 7 percent from the previous month but still up 87 percent from June 2006. The report also shows a national foreclosure rate of one foreclosure filing for every 704 U.S. households for the month.”

“‘Foreclosure activity subsided somewhat in June after hitting a 30-month high in May,’ said James J. Saccacio, chief executive officer of RealtyTrac. ‘And the drop in activity was fairly broad, with 33 states reporting month- over-month decreases. Still, the foreclosure rates in most states remained substantially above last year's levels.’” read more >>

The top 5 by rank according to RealtyTrac:

Rank State 1 for every #HH %Change from May 07 %Change from June 06
1 Nevada 175 -9.80 279.58
2 California 315 -2.16 286.81
3 Colorado 317 -9.75 54.40
4 Florida 347 -3.08 144.45
5 Arizona 383 -3.50 168.00

1 comment:

Trent said...

We operate, a foreclosures site and have seen a huge increase in the number of foreclosures in the past 4 months. I believe it is a combination of not only sub-prime and ARM mortgages, but also the high number of people who have gotten loans with interest rates at an all time low... in addition to the rapid depreciation in some areas and the difficulty some are experiencing in selling their homes.