National Foreclosures Decrease 5 Percent in June June foreclosures still up 17 percent from 2005 according to RealtyTrac U.S. Foreclosure Market Report
RISMEDIA, July 19, 2006—RealtyTrac(TM) (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its June 2006 U.S. Foreclosure Market Report, which shows 88,195 properties nationwide entering some stage of foreclosure during the month, a decrease of five percent from the previous month, but still a 17 percent increase from June 2005. The report also shows a national foreclosure rate of one new foreclosure filing for every 1,311 U.S. households during the month.
RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with nearly 600,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, AOL Real Estate and Knight Ridder Online.
"New U.S. foreclosures dropped to their lowest level of the year in June, despite some of the sensational and misleading figures that we've seen reported recently," said James J. Saccacio, chief executive officer of RealtyTrac. "We think it's irresponsible to present falsely-inflated numbers to the media for commercial gain as we've seen happen recently. The fact is that most states, with the notable exception of California, Ohio and Nevada, reported decreased numbers of foreclosure filings in June."
Colorado, Nevada and Georgia post top foreclosure rates
Despite posting the nation's highest foreclosure rate for the fourth month in a row, Colorado foreclosure activity declined in June. The state reported 3,695 properties entering some stage of foreclosure, a 12 percent decrease from the previous month but still a 61 percent year-over-year increase from June 2005. With one new foreclosure filing for every 495 households, the state's foreclosure rate was 2.7 times the national average.
Nevada's foreclosure rate jumped from seventh highest to second highest in the nation thanks to a 13 percent increase in foreclosures from the previous month. The state reported 1,244 properties entering some stage of foreclosure, more than twice the number reported in June 2005 and a foreclosure rate of one new foreclosure filing for every 697 households -- 1.9 times the national average.
Georgia reported 4,390 properties entering some stage of foreclosure, a decrease of 24 percent from the previous month and a decrease of 11 percent from June 2005, but the state's foreclosure rate of one new foreclosure filing for every 705 households still ranked as the third highest in the country.
Texas, California and Florida report most foreclosures
Texas foreclosure activity decreased 22 percent from the previous month, but the state still reported more new foreclosure filings than any other state for the seventh month in a row. A total of 11,355 Texas properties entered some stage of foreclosure in June, a foreclosure rate of one new foreclosure filing for every 709 households -- the nations' fourth highest rate and more than 1.8 times the national average.
With 10,031 properties entering some stage of foreclosure, a 15 percent increase from the previous month, California leapfrogged past Florida to document the second most foreclosure filings of any state in June. California's foreclosure rate of one new foreclosure filing for every 1,218 households inched above the national average for the first time in three months.
Florida reported 8,605 properties entering some stage of foreclosure in June, the third most of any state despite a 3 percent decrease from the previous month and a 12 percent year-over-year decrease from June 2005. The state's foreclosure rate of one new foreclosure filing for every 849 households ranked eighth highest in the nation and was 1.5 times the national average. |
