U.S. foreclosure activity in June actually decreased 3% form the prior month, but year over year saw a ginormo jump — up 53 percent from June 2007.
Here are the key data bullet points:
• One in every 501 U.S. households either lost the home to foreclosure, received a default notice or was warned of a pending auction;
• Foreclosure filings — default notices, auction sale notices and
bank repossessions — 252,363 U.S. properties during the month;
• June was the second consecutive month of more than a quarter
million properties receiving foreclosure filings;
• Bank seizures REOs in June were up 171% from a year ago, while Default
notices were up 38% and auction notices were up 22%; This means repossessions (REO) are increasing at a much
faster pace than default notices
• Nevada, California and Arizona post top state foreclosure rates,
while California, Florida, Ohio report highest foreclosure totals;
• One in every 192 California properties received a foreclosure filing in June (2nd in nation and
2.6 times the national average);
• California and Florida cities account for 9 of top 10 metro rates
• Las Vegas continued to be the only city outside of California and Florida with a foreclosure
rate ranking among the top 10.
FORECLOSURE ACTIVITY DECREASES 3 PERCENT IN JUNE
Foreclosure Activity Up 53 Percent From June 2007
RealtyTrac July 10, 2008
Foreclosures Rose 53% in June, Bank Seizures Triple
Bloomberg, July 10 2008
Foreclosure Activity Deflating or Just Deferred?
Realty Trac, July 10, 2008 1:59 AM