 |
My PropBot | Services | Properties | Groups | Forum | Products | Articles | Companies | News | Lending | Members | Add Properties | Login |
| National Foreclosures Increase in Every Quarter of 2005 According to RealtyTrac(TM) U.S. Foreclosure Market Report | |||||||||||||
|
Posted: 05/17/2012 12:00 AM | |||||||||||||
IRVINE, CA -- Nearly 847,000 Properties Enter Foreclosure During the Year Florida, Colorado and Utah Post Nation's Highest Foreclosure Rates RealtyTrac(TM) (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released year-end data from its 2005 U.S. Foreclosure Market Report, which showed that 846,982 properties nationwide entered some stage of foreclosure in 2005, and a 25 percent increase in the number of new foreclosures from the first quarter to the fourth quarter. 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 ****Must have at least 5 friends following you in your network before you can post URL's***. "Overall U.S. foreclosure numbers climbed steadily over the course of the year, with more new foreclosures reported in every quarter," said James J. Saccacio, chief executive officer of RealtyTrac. "This trend appears to be moving the real estate foreclosure market back to its historic levels." Saccacio noted that the number of 2005 foreclosures needed to be kept in context. "Even with almost 850,000 properties entering some stage of foreclosure across the country over the course of the year, this represents less than 1 percent of all U.S. households. And the increase in U.S. foreclosures from Q3 to Q4 was just below 5 percent." Report Highlights * Despite a 29 percent decrease in new foreclosures from the first quarter to the fourth quarter, Florida documented the nation's highest foreclosure rate and accounted for more than 14 percent of the nation's new foreclosures in 2005. The state reported 121,843 properties entering some stage of foreclosure -- 1.67 percent of the state's households. * New foreclosures in Colorado decreased 4 percent from the first quarter to the fourth quarter, but the state's annual foreclosure rate ranked second highest nationwide thanks to consistently high foreclosure numbers throughout the year. A total of 29,630 Colorado properties entered some stage of foreclosure in 2005 -- 1.62 percent of the state's households. * 1.5 percent of Utah households entered some stage of foreclosure in 2005, the nation's third highest annual foreclosure rate. The state reported 11,536 properties entering some stage of foreclosure during the year, but new foreclosures dropped 27 percent from the first quarter to the fourth quarter. * New foreclosures in Texas increased 54 percent from the first quarter to the fourth quarter, and the state documented the nation's fourth highest annual foreclosure rate. A total of 115,643 Texas properties entered some stage of foreclosure in 2005 -- 1.44 percent of the state's households and more than 13 percent of the nation's new foreclosures in 2005. * Other states with foreclosure rates ranking among the 10 highest nationwide were Georgia, Arizona, Indiana, New Jersey, Ohio and Tennessee. All of these state documented annual foreclosure rates of at least 1 percent of total households and reported new foreclosures increasing from the first quarter to the fourth quarter * Although their foreclosure rates ranked below the nation's 10 highest, California, Illinois, New York and Michigan were among the 10 states reporting the most new foreclosures in 2005. California reported 61,563 properties entering some stage of foreclosure, and new foreclosures increased 16 percent from the first quarter to the fourth quarter. Illinois reported 46,723 properties entering some stage of foreclosure, and new foreclosures decreased 14 percent from the first quarter to the fourth quarter. New York reported 37,068 properties entering some stage of foreclosure, and the state reported more than twice as many new foreclosures in the fourth quarter as in the first quarter. "Over the past few years, we've seen historically low mortgage rates, consistently escalating home prices and steady, strong employment," Saccacio said. "This has translated into relatively low levels of foreclosure properties -- particularly bank-owned properties. With interest rates rising and an apparent slowing of property valuations in most markets, we'll be watching closely to see if there's a material effect on the number of foreclosures in 2006." The RealtyTrac 2005 U.S. Foreclosure Market Report provides the total number of homes entering some stage of foreclosure nationwide and by state for each quarter of 2005. 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 re-purchased by a bank). Below are foreclosure market statistics nationwide and by state: State Name Q1 Q2 Q3 Q4 Total % Change Q4 from Q1 US 2005 188122 201358 223224 234278 846982 24.535 Alabama 799 1845 958 360 3962 -54.944 Alaska 268 420 381 333 1402 24.254 Arizona 5896 7577 7000 6366 26839 7.972 Arkansas 1806 2998 4303 2143 11250 18.660 California 15887 13504 13768 18404 61563 15.843 Colorado 6779 7862 8470 6519 29630 -3.835 Connecticut 1456 2601 1470 4202 9729 188.599 Delaware 119 113 61 30 323 -74.790 District of Columbia 10 58 47 40 155 300.000 Florida 34651 30812 31829 24551 121843 -29.148 Georgia 8388 7841 11203 10881 38313 29.721 Hawaii 200 211 2634 161 3206 -19.500 Idaho 936 684 569 556 2745 -40.598 Illinois 12094 11894 12366 10369 46723 -14.263 Indiana 7254 7209 7728 8304 30495 14.475 Iowa 466 451 452 735 2104 57.725 Kansas 440 520 414 531 1905 20.682 Kentucky 1349 1758 1043 819 4969 -39.288 Louisiana 1155 1364 831 496 3846 -57.056 Maine 50 29 34 26 139 -48.000 Maryland 667 881 1692 1448 4688 117.091 Massachusetts 616 1165 735 1843 4359 199.188 Michigan 4411 7222 9953 11937 33523 170.619 Minnesota 486 571 509 676 2242 39.095 Mississippi 339 850 440 280 1909 -17.404 Missouri 2039 2425 2807 3038 10309 48.995 Montana 179 179 261 285 904 59.218 Nebraska 367 303 670 730 2070 98.910 Nevada 1950 1798 1644 2331 7723 19.538 New Hampshire 33 29 49 33 144 0.000 New Jersey 6482 9165 5991 13487 35125 108.068 New Mexico 1254 2061 1721 2247 7283 79.187 New York 5299 9937 9084 12748 37068 140.574 North Carolina 4170 4194 3466 4086 15916 -2.014 North Dakota 68 53 19 24 164 -64.706 Ohio 8547 9901 14961 16435 49844 92.290 Oklahoma 3131 3543 3476 3348 13498 6.931 Oregon 2099 1771 1554 1431 6855 -31.825 Pennsylvania 5083 7827 7089 8651 28650 70.195 Rhode Island 9 18 9 3 39 -66.667 South Carolina 2229 2079 1332 1966 7606 -11.799 South Dakota 55 49 52 41 197 -25.455 Tennessee 4739 5594 8114 6095 24542 28.614 Texas 24127 21176 33289 37051 115643 53.567 Utah 3484 2749 2775 2528 11536 -27.440 Vermont 15 16 11 18 60 20.000 Virginia 380 388 868 956 2592 151.579 Washington 4214 4375 3287 2989 14865 -29.070 West Virginia 165 202 425 227 1019 37.576 Wisconsin 1434 1036 1247 1404 5121 -2.092 Wyoming 48 50 70 47 215 -2.083 About RealtyTrac Inc. Ranked as the fourth-largest real estate site by Nielsen NetRatings, 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, For-Sale-by-Owner and new construction properties, with more than 550,000 properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts more than 2 million unique visitors monthly and is the exclusive foreclosure data supplier to AOL, MSN House & Home, Yahoo Real Estate and HomeGain. For more information, visit ****Must have at least 5 friends following you in your network before you can post URL's*** Source: RealtyTrac Inc. |
CONTACT: Michelle Sabolich of Atomic Public Relations, +1-415-402-0230, michelle.sabolich@atomicpr.com, for RealtyTrac Inc. Web site: ****Must have at least 5 friends following you in your network before you can post URL's*** About This Release If you have any questions regarding information in this press release, please contact the organization listed in the press release. Issuers of press releases and not PropBot.com are solely responsible for the accuracy of the content.
| ||||||||||||
|
|
|
| Logged In members can moderate all comments. |