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U.S. Foreclosures up slightly in January; down 17 percent from year before

RealtyTrac released their foreclosure report for January 2011 showing there were foreclosure filings in January on 261,333 U.S. properties, a 1 percent increase from December but a 17 percent decrease from January 2010.

Nevada, Arizona, California post top state foreclosure rates
Nevada
bank repossessions increased 16 percent from the previous month, helping the state maintain the nation’s highest state foreclosure rate for the 49th straight month — despite month-over-month decreases in default notices and scheduled auctions. One in every 93 Nevada housing units received a foreclosure filing in January — more than five times the national average.

One in every 175 Arizona housing units received a foreclosure filing in January, the nation’s second highest state foreclosure rate. Arizona foreclosure activity increased 16 percent from the previous month — driven by a 54 percent month-over-month increase in REOs — but was still down 25 percent from January 2010.

California REO activity increased 32 percent from the previous month, and the state posted the nation’s third highest state foreclosure rate, with one in every 200 housing units receiving a foreclosure filing.

Idaho posted the nation’s fourth highest state foreclosure rate, with one in every 241 housing units receiving a foreclosure filing, while Utah posted the nation’s fifth highest state foreclosure rate, with one in every 265 housing units receiving a foreclosure filing during the month.

Other states with foreclosure rates ranking among the top 10 in January were Michigan, Georgia, Illinois, Florida and Colorado.

Five states account for more than 50 percent of national total
With 67,072 properties receiving a foreclosure filing, California accounted for more than 25 percent of the national total in January. After hitting a 25-month low in November, California foreclosure activity has increased on a month-over-month basis for two straight months.

Florida foreclosure activity decreased on a month-over-month basis for the fourth straight month, but the state’s 21,671 properties receiving a foreclosure filing in January — a 42-month low — was still the second highest in the nation.

Michigan foreclosure activity increased for the second straight month, and the state posted the nation’s third highest total, with 16,716 properties receiving a foreclosure filing in January.

Arizona posted the nation’s fourth highest total, with 15,757 properties receiving a foreclosure filing, while Texas posted the nation’s fifth highest total, with 14,897 properties receiving a foreclosure filing during the month.

Other states with foreclosure activity totals among the nation’s 10 highest in January were Illinois (13,164), Georgia (12,772), Nevada (12,263), Ohio (8,924) and New Jersey (5,526).

Top 10 metro rates in Nevada, California, Arizona, while Florida metros drop
With one in every 82 housing units receiving a foreclosure filing in January, the Las Vegas-Paradise, Nev., metro area maintained the nation’s highest foreclosure rate among metropolitan areas with a population of 200,000 or more. Las Vegas foreclosure activity decreased nearly 13 percent from the previous month and increased less than 1 percent from January 2010.

The other Nevada metro area in the top 10 was Reno-Sparks, at No. 5 with one in every 132 housing units receiving a foreclosure filing.

Seven California metro areas posted foreclosure rates in the top 10, led by Modesto, at No. 2 with one in every 111 housing units receiving a foreclosure filing; Stockton, at No. 3 with one in every 114 housing units receiving a foreclosure filing; and Riverside-San Bernardino-Ontario, at No. 4 with one in every 120 housing units receiving a foreclosure filing. Other California metro areas with foreclosure rates in the top 10 were Vallejo-Fairfield at No. 6 (one in 135 housing units); Bakersfield at No. 7 (one in 143); Merced at No. 9 (one in 149); and Sacramento-Arden-Arcade-Roseville at No. 10 (one in 151). Sacramento was the only California metro area in the top 10 to report increasing foreclosure activity on a month-over-month and year-over year basis.

With one in every 143 housing units receiving a foreclosure filing in January, the Phoenix-Mesa-Scottsdale metro area posted the nation’s eighth highest metro foreclosure rate.

No Florida cities showed up in the top 20 metro foreclosure rates in January. In contrast the state accounted for nine of the top 20 metro foreclosure rates in 2010.

U.S. Foreclosure Market Data by State – January 2011 – Source RealtyTrac

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                           Properties with Foreclosure Filings
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                                                                 %      %
                                                       1/ever Change Change
Rate  State                                            y X HU  from    from
Rank   Name   NOD    LIS    NTS    NFS    REO   Total  (rate) Dec 10  Jan 10
----------------------------------------------------------------------------
  -- U.S.   36,964 38,234 88,050 19,952 78,133 261,333    497   1.39  -17.23
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  34 Alabama     0      0  1,038      0    604   1,642  1,329 -15.92   -8.83
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  31 Alaska      0      0    165      0    100     265  1,071  38.74  -15.61
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   2 Arizona     7      0  8,997      0  6,753  15,757    175  16.19  -25.14
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  19 Arkansas  128      0  1,294      0    486   1,908    687  -3.34   -5.12
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     Cali-
   3 fornia 24,162      0 27,017      0 15,893  67,072    200   1.76   -6.61
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  10 Colorado    7      0  3,190      0  1,749   4,946    438  -3.46   -1.65
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     Connect-
  39 icut        0    548      0     60    229     837  1,727 -25.27  -62.26
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  20 Delaware    0      0      0    192    376     568    698  28.80   23.48
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     District of
     Columbia    0      0      6      0     16      22 12,961 -57.69  -88.54
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   9 Florida     0  8,882      0  5,231  7,558  21,671    409 -15.48  -53.96
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   7 Georgia     1      0  8,015      0  4,756  12,772    318  15.67   13.29
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  11 Hawaii     36      0    555      0    394     985    523  -1.50  -24.35
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   4 Idaho     776      0  1,215      0    695   2,686    241  29.38    3.19
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   8 Illinois    0  8,345      1  1,908  2,910  13,164    402  -6.25  -27.35
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  29 Indiana     0    913      0  1,001  1,075   2,989    940 -16.67  -35.33
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  28 Iowa        0    927      5    225    278   1,435    937  -9.12 131.08*
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  25 Kansas      0    330      0    432    720   1,482    833 38.63* 109.32*
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  38 Kentucky    0    684      0    248    278   1,210  1,599 21.85*    5.13
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  27 Louisiana   0    267      0  1,387    469   2,123    925 19.40*  76.62*
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  42 Maine       0     78      0    132    136     346  2,036  16.11   -3.08
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  37 Maryland    0    279      0    373    906   1,558  1,503  -4.71  -70.20
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     Massa-
  40 chusetts    0    602      6    496    460   1,564  1,757  -4.58  -65.52
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     Michi-
   6 gan     5,274      0  6,724      0  4,718  16,716    272   4.08   -4.88
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  26 Minnesota  80      1  1,126      0  1,367   2,574    906  -9.78   -8.50
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  46 Mississippi 0      0    123      0    169     292  4,391 -71.48  -29.81
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  24 Missouri    2      0  2,153      0  1,107   3,262    822   2.80   10.76
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  41 Montana     0      0    135      0    106     241  1,831  -6.95  -39.14
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  44 Nebraska  131      0     84      0     60     275  2,880  -0.72  -27.44
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   1 Nevada  4,535      0  4,212      0  3,516  12,263     93  -8.97    3.45
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     New
  18 Hampshire   0      0    648      0    253     901    666 99.78*  -20.55
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     New
  16 Jersey      0  4,011      0    863    652   5,526    638  12.84  -10.09
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     New
  21 Mexico      0    664      0    235    334   1,233    712   8.16   -3.75
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     New
  43 York        0  2,339      1    302    243   2,885  2,779  10.03  -36.86
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     North
  35 Carolina  367      0  1,582      0  1,091   3,040  1,401   1.16   -3.92
----------------------------------------------------------------------------
     North
  49 Dakota      0      1      0      8     16      25 12,657 -13.79  -34.21
----------------------------------------------------------------------------
  13 Ohio        0  3,889      0  2,701  2,334   8,924    571 -15.20  -19.64
----------------------------------------------------------------------------
  30 Oklahoma    0    739      0    549    397   1,685    979  11.74   -4.96
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  15 Oregon     52      0  1,782      0    964   2,798    586   0.14  -41.85
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     Pennsyl-
  36 vania       0    986      0  1,782    924   3,692  1,495 -22.52  -27.37
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     Rhode
  33 Island      0      0    248      0    131     379  1,193 -26.97  -41.60
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     South
  22 Carolina    0  1,592      0    407    906   2,905    717  -3.62   -6.32
----------------------------------------------------------------------------
     South
  47 Dakota      0     12      0     25     39      76  4,810 -59.14 442.86*
----------------------------------------------------------------------------
  23 Tennessee   0      0  2,076      0  1,374   3,450    806  32.59  -11.79
----------------------------------------------------------------------------
  17 Texas      16      0  9,898      0  4,983  14,897    653  33.46   21.86
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   5 Utah    1,372      0  1,303      0    926   3,601    265   8.11  -11.89
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  50 Vermont     0      0     11      0     10      21 14,964  40.00   40.00
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  32 Virginia   17      0  1,925      0  1,091   3,033  1,098 -11.21  -42.07
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  12 Washington  0      0  2,458      0  2,523   4,981    565  23.63   42.52
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     West
  48 Virginia    0      0     30      0     63      93  9,610 -19.83   25.68
----------------------------------------------------------------------------
  14 Wisconsin   0  2,145      6  1,395    936   4,482    577  20.65   20.81
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  45 Wyoming     1      0     21      0     59      81  3,079   1.25 145.45*
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*Actual increase may not be as high due to data collection changes or improvements

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