August 2007 Foreclosure Report

Realty Trac just released their foreclosure report yesterday morning for August 2007. To review the press release and report online click here.Here are some of the highlights:

National

  • Foreclosure activity increased 36 percent from July 2007 (179,599 foreclosure filings)
  • Foreclosure activity increased 115 percent from August 2006
  • Foreclosure filing up 93 percent from July 2006
  • REOs increased 59% month over month, the bigest increase of any of the three foreclosure categories (Default, Auction, REO)
  • Foreclosure rate is one foreclosure filing for ever 693 households

State

  • California, Nevada and Florida posted the top three state foreclosure rates
  • The states with the most foreclosure filings were California, Florida, Ohio, Texas Foreclosures and Michigan
  • California cities accounted for six of the top 10 metro foreclosure rates
  • Modesto, Stockton and Merced documented the top three metro foreclosure rates
  • Other top 10 metro foreclosure rates were Detroit, Fort Lauderdale, Las Vegas and Cleveland
  • Nevada documented the nation’s highest state foreclosure rate for the seventh month in a row, one foreclosure filing for every 199 households.
  • Georgia’s foreclosure rate jumped from 8th to 2nd highest in July due to 75 percent increase in foreclosure activity from previous month.
  • California reported 39,013 foreclosure filings in July, the most of any state for the seventh month in a row and up 289 percent from July 2006.

RealtyTrac



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