SAN FRANCISCO, CA -- Real Estate Connect(R) -- RealtyTrac(TM) (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its June 2005 Monthly U.S. Foreclosure Market Report(TM). 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 www.HomeGain.com.
The number of properties entering foreclosure nationwide increased to 67,024 in June compared to 62,432 in May. That was the highest number of new foreclosures reported in any one month in 2005, and caused a 7.4-percent increase in the nation's foreclosure rate, with one new foreclosure for every 1,726 households.
"June's increase is not cause for alarm, but it's certainly an indication that foreclosures bear watching," said James J. Saccacio, RealtyTrac chief executive officer. "Tens of thousands of properties continue to fall into foreclosure each month even in a generally strong national real estate market."
The six states with the most new foreclosures -- Texas, Florida, California, Georgia, Ohio and Illinois -- accounted for more than half of the nation's total with 37,249. All of these states except California registered foreclosure rates higher than the national average. The number of new foreclosures in California increased by 19 percent, but its foreclosure rate was less than two-thirds the national average with one new foreclosure for every 2,773 households.
After a one-month dip, Texas regained the highest foreclosure rate in the nation with 12,693 new foreclosures reported in June. That was a 69-percent increase from May and raised the state's foreclosure rate to 2.7 times the national average with one new foreclosure for every 636 households.
Georgia recorded the second-highest foreclosure rate in the nation for the second month in a row with one new foreclosure for every 783 households. Florida's foreclosure rate was close behind with one new foreclosure for every 793 households. Although both states registered foreclosure rates more than two times the national average, the number of new foreclosures in both states was down several percentage points from May.
Colorado had 402 fewer new foreclosures in June than in May, but its foreclosure rate remained among the nation's five highest for the fourth month in a row with one new foreclosure for every 867 households.
Utah replaced New Mexico among the states with the five-highest foreclosure rates with a 17-percent jump in the number of new foreclosures in June. New Mexico's foreclosure rate, which spiked to the highest in the nation in May, dropped back below the national rate.
RealtyTrac also started tracking foreclosure data in 73 new counties in June. Although the new counties' data is not used for the current month-to-month comparisons, it is included in the June report shown below. The 73 new counties reported 8,417 properties entering foreclosure in June, bringing the nationwide total to 75,441 and raising the national foreclosure rate to one new foreclosure for every 1,534 households. Subsequent months will be tracked against this new number.
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 re-purchased by a bank).
Below are foreclosure market statistics nationwide and by state:
State Name NODs NTSs NFSs LISs REOs Total %tile
US 6/2005 13428 30031 1908 10286 19788 75441
Alabama 1 925 0 0 153 1079 66.67
Alaska 0 133 0 0 13 146 72.55
Arizona 18 1896 0 0 182 2096 86.27
Arkansas 25 782 0 0 132 939 80.39
California 3938 566 0 0 181 4685 54.90
Colorado 1378 200 0 0 721 2299 94.12
Connecticut 782 30 0 0 3 815 68.63
Delaware 7 15 0 0 6 28 19.61
District of Columbia 0 4 0 0 28 32 29.41
Florida 0 0 1286 8063 429 9778 96.08
Georgia 14 2687 0 0 2212 4913 98.04
Hawaii 40 27 0 0 1 68 35.29
Idaho 63 127 0 0 34 224 60.78
Illinois 2181 127 0 0 1457 3765 76.47
Indiana 565 677 0 0 899 2141 84.31
Iowa 26 26 0 0 76 128 25.49
Kansas 13 28 0 0 111 152 31.37
Kentucky 368 69 0 0 200 637 49.02
Louisiana 32 229 0 0 94 355 39.22
Maine 0 1 0 0 2 3 1.96
Maryland 9 342 0 0 294 645 44.12
Massachusetts 28 346 0 0 5 379 33.33
Michigan 22 288 0 0 2723 3033 74.51
Minnesota 16 52 0 0 91 159 17.65
Mississippi 7 283 0 0 52 342 41.18
Missouri 21 84 0 0 623 728 44.12
Montana 0 34 0 0 4 38 21.57
Nebraska 55 8 0 0 17 80 27.45
Nevada 117 409 0 0 33 559 70.59
New Hampshire 0 7 0 0 6 13 9.80
New Jersey 1699 1400 0 0 97 3196 89.22
New Mexico 270 24 0 0 76 370 64.71
New York 0 0 622 2223 69 2914 51.96
North Carolina 19 207 0 0 1233 1459 56.86
North Dakota 0 2 0 0 17 19 12.75
Ohio 113 1729 0 0 2148 3990 82.35
Oklahoma 436 338 0 0 416 1190 78.43
Oregon 109 296 0 0 64 469 47.06
Pennsylvania 130 1322 0 0 730 2182 58.82
Rhode Island 1 5 0 0 0 6 5.88
South Carolina 55 73 0 0 532 660 51.96
South Dakota 0 2 0 0 2 4 5.88
Tennessee 3 994 0 0 1372 2369 89.22
Texas 24 12007 0 0 1588 13619 100.00
Utah 567 33 0 0 314 914 92.16
Vermont 0 1 0 0 2 3 5.88
Virginia 2 206 0 0 70 278 23.53
Washington 3 925 0 0 149 1077 62.75
West Virginia 0 41 0 0 21 62 15.69
Wisconsin 270 21 0 0 65 356 37.25
Wyoming 0 0 0 0 15 15 12.75
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 close to 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 www.realtytrac.com.
Source: RealtyTrac
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CONTACT: Media, Jennifer Olson of Atomic Public Relations,
+1-415-402-0230, jennifer@atomicpr.com, for RealtyTrac
Web site: http://www.realtytrac.com/
http://www.inman.com/connectsf/sf.aspx
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