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U.S. Second Quarter Foreclosures by Metropolitan Area (Table)
By Kristy Scheuble
July 25 (Bloomberg) -- Following is a comparison of foreclosures by metropolitan area in the second quarter according to RealtyTrac data.
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State Metro Name Total 1 in every YoY%
Household
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U.S. Total 739,714 171 121.36
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CA Stockton 9,066 25 170.63
CA Riverside/San Bernardino 43,600 32 193.42
NV Las Vegas/Paradise 21,742 35 143.66
CA Bakersfield 6,431 41 294.78
CA Sacramento 15,505 49 125.46
FL Fort Lauderdale 15,558 51 215.26
AZ Phoenix/Mesa 31,613 51 306.81
CA Oakland 15,904 60 237.31
CA Fresno 4,806 62 178.13
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State Metro Name Total 1 in every YoY%
Household
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FL Miami 15,260 62 112.86
CA San Diego 17,343 65 206.52
MI Detroit/Livonia/Dearborn 12,826 66 52.91
FL Orlando 11,809 72 247.94
FL Sarasota/Bradenton/Venice 4,690 82 163.34
CA Orange 12,439 82 276.71
CA Ventura 3,177 85 228.88
FL Tampa/St Petersburgh/Clearwater 14,960 87 158.51
FL Palm Beach 7,141 88 188.29
CA Los Angeles/Long Beach 36,955 91 168.24
GA Atlanta/Sandy Springs/Marietta 22,484 91 77.05
OH Toledo 3,253 92 121.44
OH Akron 3,283 93 24.40
CO Denver/Aurora 10,829 95 44.71
CA San Jose/Sunnyvale/Santa Clara 6,437 97 343.32
TN-MS-AR Memphis 5,141 105 95.33
OH Cleveland/Lorain/Elyria/Mentor 8,735 108 -3.69
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State Metro Name Total 1 in every YoY%
Household
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DC-MD-VA Washington/Arlington/Alexandria 15,569 109 250.97
MI Warren/Farmington Hills/Troy 9,312 113 100.26
OH Dayton 3,304 115 18.68
IN Indianapolis 6,058 122 30.87
OH Columbus 6,285 122 39.11
MA Essex 2,418 122 365.90
FL Jacksonville 4,540 125 73.35
IN Gary 1,980 144 61.11
IL Chicago 21,488 144 58.30
MA Worchester 2,156 146 188.62
AZ Tucson 2,820 148 138.18
NJ Newark 5,458 154 170.47
IL Lake/Kenosha 1,573 159 61.66
MA Boston/Quincy 4,719 159 333.33
OH-KY-IN Cincinnati 5,601 161 16.49
NJ Camden 1,588 177 137.37
WA Tacoma 1,732 179 112.78
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State Metro Name Total 1 in every YoY%
Household
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WI Milwaukee/Waukesha/Wst Allis 3,545 184 208.80
MO-KS Kansas City 4,643 187 94.84
MO-IL St Louis 6,357 192 76.73
MA Springfield 1,449 195 198.15
MA Cambridge/Newton/Framingham 2,994 197 337.08
TX Dallas 7,638 202 10.11
TX Fort Worth/Arlington 3,785 203 27.44
TX Houston/Baytown/Sugarland 9,827 214 83.96
UT Salt Lake City 1,768 217 89.29
OK Tulsa 1,772 222 69.57
MD Bethesda/Frederick/Gaithersburg 1,939 229 167.45
NC-SC Charlotte/Gastonia 2,923 232 25.45
TN Nashville/Davidson 2,626 238 126.18
CT Newhaven/Milford 1,452 240 -3.33
NY Poughkeepsie/Newburgh/Middletown 1,015 241 423.20
MN-WI Minneapolis/St Paul/Bloomington 5,120 256 106.04
CA San Francisco 2,778 263 203.94
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State Metro Name Total 1 in every YoY%
Household
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NC Raleigh/Cary 1,515 270 64.50
AR Little Rock/North Little Rock 1,074 270 167.16
RI Providence/New Bedford 1,660 271 444.26
CT Bridgeport/Stamford/Norwalk 1,283 272 43.19
NJ Edison 3,367 276 54.10
OK Oklahoma City 1,826 282 75.58
OR-WA Portland/Vancouver/Beaverton 2,961 295 132.05
TX San Antonio 2,452 301 39.08
NY Suffolk/Nassau 3,298 304 82.41
NC Greensboro/Highpoint 1,007 304 75.44
NE-IA Omaha/Council Bluffs 1,075 322 97.97
PA Philadelphia 4,977 324 46.60
MD Baltimore/Towson 3,389 325 105.64
CT Hartford 1,470 333 -0.14
TN Knoxville 856 354 108.78
NY Albany/Schenectady/Troy 1,062 356 276.60
SC Columbia 813 373 354.19
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State Metro Name Total 1 in every YoY%
Household
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TX Austin/Round Rock 1,611 381 12.42
PA Pittsburgh 2,880 383 87.74
NY Rochester 1,124 392 10.63
LA New Orleans 1,127 398 83.85
NM Albuquerque 857 405 64.81
WA Seattle/Bellevue/Everett 2,616 411 69.10
NY-NJ New York/Wayne/White Plains 10,189 432 66.19
VA Richmond 1,104 456 804.92
KS Wichita 548 466 122.76
DE-MD-NJ Wilmington 576 483 244.91
SC Greenville 536 492 587.18
KY-IN Louisville 1,032 523 -21.22
VA-NC Norfolk/Virginia Beach/Newport News 1,081 551 170.25
TX El Paso 408 611 2.77
TX Mcallen/Edinburg/Pharr 392 612 276.92
SC Charleston 437 627 67.43
PA Scranton/Wilkes/Barre/Hazleton 360 715 56.52
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State Metro Name Total 1 in every YoY%
Household
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NY Buffalo/Cheektowaga/Tonawanda** 680 765 77.55
LA Baton Rouge 400 780 132.56
AL Birmingham/Hoover 574 798 -43.39
NY Syracuse 331 860 154.62
PA Allentown/Bethlehem/Easton 317 972 10.84
HI Honolulu 250 1331 63.40
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Report Notes:
RealtyTrac (www.realtytrac.com), the leading online marketplace for
foreclosure properties, today released its Q2 2008 U.S. Foreclosure
Market Report, which shows foreclosure filings were reported on 739,714
U.S. properties during the second quarter, a nearly 14 percent increase
from the previous quarter and a 121 percent increase from the second
quarter of 2007. The report also shows that one in every 171 U.S.
households received a foreclosure filing during the quarter.
RealtyTrac publishes the largest and most comprehensive national
database of foreclosure and bank-owned properties, with over 1.5 million
properties from over 2,200 counties across the country, and is the
foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The
Wall Street Journal's Real Estate Journal.
?Although much of the fallout from foreclosures is being driven by
rampant activity in a few states, such as Nevada, California, Florida,
Ohio, Arizona and Michigan, most areas of the country are seeing at
least some increase in foreclosure activity,? said James J. Saccacio,
chief executive officer of RealtyTrac. ?Forty-eight of 50 states and 95
out of the nation's 100 largest metro areas experienced year-over-year
increases in foreclosure activity in the second quarter.
?Bank repossessions, or REOs, accounted for 30 percent of total
foreclosure activity in the second quarter, up from 24 percent of the
total in the first quarter,? Saccacio continued. ?This shift in the
distribution of activity indicates that there is a progression toward
purging the problem loans out of the system -- at which point the
housing market can regain some sense of normalcy. Of course if another
surge in defaults occurs, which could well happen later this year, it
would refill the foreclosure pipeline and prolong the recovery.?
Nevada, California, Arizona post top state foreclosure rates
One in every 43 Nevada households received a foreclosure filing during
the second quarter, the highest foreclosure rate among the states and
nearly four times the national average. Foreclosure filings were
reported on 24,657 Nevada properties during the quarter, up 26 percent
from the previous quarter and up 147 percent from the first quarter of
2007.
Foreclosure filings were reported on 202,599 California properties
during the second quarter, the highest total among the states and a rate
of one in every 65 households -- the nation's second highest state
foreclosure rate. Foreclosure activity in California increased 19
percent from the previous quarter and was nearly three times the level
reported in the second quarter of 2007.
With one in every 70 households receiving a foreclosure filing, Arizona
posted the nation's third highest state foreclosure rate in the second
quarter. Foreclosure filings were reported on 37,230 Arizona properties
during the quarter, up nearly 36 percent from the previous quarter and
close to four times the number reported in the second quarter of 2007.
Florida documented the nation's fourth highest state foreclosure rate in
the second quarter, with one in every 78 households receiving a
foreclosure filing during the quarter -- more than twice the national
average. Foreclosure filings were reported on 109,433 Florida properties
during the quarter, the second highest total of any state and an
increase of nearly 25 percent from the previous quarter.
Despite a nearly 15 percent quarterly decrease in foreclosure activity
in the second quarter, Colorado posted the nation's fifth highest state
foreclosure rate -- one in every 129 Colorado households received a
foreclosure filing during the quarter. Second quarter foreclosure
activity in Colorado was still up more than 50 percent from the second
quarter of 2007.
Foreclosure filings were reported on 37,689 Ohio properties in the
second quarter, the third highest total among the states and a rate of
one in every 134 households -- the nation's sixth highest state
foreclosure rate. Second quarter foreclosure activity in Ohio was up
nearly 21 percent from the previous quarter and nearly 27 percent from
the second quarter of 2007.
With foreclosure filings reported on 32,868 properties during the second
quarter, Michigan notched the fifth highest total among the states. One
in every 137 Michigan households received a foreclosure filing during
the quarter, the nation's seventh highest state foreclosure rate.
Other states with foreclosure rates among the top 10 were Georgia,
Massachusetts and Illinois.
Top 20 metro areas include Las Vegas, Phoenix, Miami, San Diego and
Detroit
The Q2 2008 U.S. Foreclosure Market Report also ranks the nation's 100
largest metropolitan areas by foreclosure rate. California and Florida
metro areas accounted for 16 of the top 20 metro foreclosure rates, with
the California cities of Stockton and Riverside-San Bernardino taking
the No. 1 and No. 2 spots.
One in every 25 Stockton households received a foreclosure filing during
the quarter -- nearly seven times the national average -- and one in
every 32 Riverside-San Bernardino households received a foreclosure
filing during the quarter -- more than five times the national average.
Other California metro areas in the top 20 were Bakersfield at No. 4,
Sacramento at No. 5, Oakland at No. 8, Fresno at No. 9, San Diego at No.
11, Orange at No. 15, Ventura at No. 16 and Los Angeles at No. 19.
Las Vegas documented the third highest metro foreclosure rate, with one
in every 35 households receiving a foreclosure filing during the quarter.
Foreclosure filings were reported on 21,742 Las Vegas metro properties
during the quarter, up more than 25 percent from the previous quarter
and up nearly 144 percent from the second quarter of 2007.
The highest ranked Florida metro area was Fort Lauderdale, which ranked
No. 6 with one in every 51 households receiving a foreclosure filing
during the quarter. Other Florida metro areas in the top 20 were Miami
at No. 10, Orlando at No. 13, Sarasota-Bradenton-Venice at No. 14,
Tampa-St. Petersburg-Clearwater at No. 17 and Palm Beach at No. 18.
One in every 51 households in the Phoenix metro area received a
foreclosure filing during the quarter, ranking No. 7; one in every 66
households in the Detroit metro area received a foreclosure filing
during the quarter, ranking No. 12; and one in every 91 households in
the Atlanta metro area received a foreclosure filing during the quarter,
ranking No. 20.
Report methodology
The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count
of the total number of properties with at least one foreclosure filing
reported during the quarter -- broken out by type of filing at the state
and national level. Data is also available at the individual county
level. RealtyTrac's report incorporates documents filed in all three
phases of foreclosure: Default -- Notice of Default (NOD) and Lis
Pendens (LIS); Auction -- Notice of Trustee Sale and Notice of
Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties
(that have been foreclosed on and repurchased by a bank). If more than
one foreclosure document is filed against a property during the quarter
only the most recent filing is counted in the report. The report also
checks if the same type of document was filed against a property in a
previous quarter. If so, and if that previous filing occurred within the
estimated foreclosure timeframe for the state the property is in, the
report does not count the property in the current month.
SOURCE: RealtyTrac
To contact the reporter on this story:
Kristy Scheuble in Washington at kmckeaney@bloomberg.net
Last Updated: July 25, 2008 05:00 EDT
