NATIONAL FORECLOSURES INCREASE FOR SECOND STRAIGHT MONTH ACCORDING TO REALTYTRAC™ JULY U.S. FORECLOSURE MARKET REPORT
New Foreclosures Increase 4.7 Percent Nationwide; Arkansas, Tennessee and Florida Post Highest Foreclosure Rates.
Irvine, Calif. – August 25, 2005 – RealtyTrac™ (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its July 2005 Monthly U.S. Foreclosure Market Report, which showed that the number of properties entering some stage of foreclosure nationwide rose to 78,979 in July, a 4.7-percent increase from June and the most new foreclosures reported in any month year-to-date. New foreclosures have jumped more than 12 percent in the last two months, pushing the nation’s foreclosure rate to one foreclosure for every 1,465 households.
RealtyTrac publishes the largest national database of pre-foreclosure and foreclosure properties, with more than 550,000 properties in nearly 2,000 counties across the country, and is the foreclosure data provider to MSN House & Home, Yahoo! Real Estate, AOL Real Estate and HomeGain.com.
“If the trend from the last two months continues, foreclosures may gather enough momentum to significantly impact the real estate market,” said James J. Saccacio, RealtyTrac chief executive officer. “The numbers for the next few months will let us know if that’s the case.”
Florida reported the highest number of new foreclosures of any state with 12,471, a 27.5-percent increase that boosted the state’s foreclosure rate to one foreclosure for every 586 households. Even though Florida properties entered foreclosure at a higher rate than the previous month, the state’s foreclosure rate slid from second highest to third highest nationwide because of greater increases in other states.
Texas wasn’t far behind Florida in terms of the number of new foreclosures, with 10,100 properties entering some stage of foreclosure. But that was a 25.8-percent decrease from June and lowered the state’s foreclosure rate to seventh highest in the country with one foreclosure for every 797 households.
New foreclosures in Arkansas soared 150 percent in July, giving it the nation’s highest foreclosure rate with one foreclosure for every 491 households – almost three times the national average. The state reported 2,389 new foreclosures.
Tennessee reported 4,481 new foreclosures in July – fewer only than Florida, Texas and Ohio – and registered the nation’s second highest foreclosure rate with one foreclosure for every 547 households. It was the first month this year that foreclosure rates in Arkansas or Tennessee ranked among the five highest in the nation.
With one foreclosure for every 604 households, Hawaii’s foreclosure rate also placed among the five highest in the country for the first time this year. The state reported 763 properties entering some stage of foreclosure. Colorado’s foreclosure rate rounded out the top five with one foreclosure for every 743 households. July was the fourth consecutive month Colorado’s foreclosure rate ranked among the nation’s five highest.
Foreclosure rates in Georgia and Utah dropped out of the top five, but not far. Georgia reported 4,107 properties entering some stage of foreclosure, giving it the nation’s sixth highest foreclosure rate with one foreclosure for every 754 properties. Utah posted the eighth highest foreclosure rate with one foreclosure for every 805 households.
The RealtyTrac Monthly U.S. Foreclosure Market Report provides a graphical map that illustrates foreclosure percentiles by state (appended to this press release or available by request), as well as 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 repurchased by a bank).
Below are foreclosure market statistics nationwide and by state:
|District of Columbia 7/2005||0||6||0||0||17||23||13.73|
|New Hampshire 7/2005||0||12||0||0||12||24||9.80|
|New Jersey 7/2005||1274||655||0||0||63||1992||68.63|
|New Mexico 7/2005||260||133||0||0||100||493||70.59|
|New York 7/2005||0||0||1058||2018||91||3167||53.92|
|North Carolina 7/2005||24||364||0||0||1060||1448||53.92|
|North Dakota 7/2005||0||0||0||0||7||7||4.90|
|Rhode Island 7/2005||0||7||0||0||0||7||1.96|
|South Carolina 7/2005||41||179||0||0||415||635||48.04|
|South Dakota 7/2005||2||3||0||0||10||15||11.76|
|West Virginia 7/2005||0||222||0||0||27||249||39.22|
About RealtyTrac Inc.
Ranked as the fourth-largest real estate site by Nielsen Net Ratings, 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 and For Sale By Owner properties, with more than 550,000 properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts close to two million unique visitors monthly and is the exclusive foreclosure data supplier to MSN House & Home, Yahoo! Real Estate and HomeGain as well as the foreclosure data provider to AOL Real Estate. For more information, visit www.realtytrac.com.
Atomic Public Relations