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St. Louis Real Estate Search

 

St Louis Foreclosures in April up almost 29 percent from year ago

st-louis-realtor-dennis-norman-real-estate-foreclosuresThis morning, RealtyTrac released their U.S. Foreclosure Market Report for April 2012 which shows that foreclosure filings (default notices, scheduled auctions and bank repossessions) we’re reported on 1,793 properties in St. Louis during the month, a 0.33 percent decrease from the previous month and an increase of 28.53 percent from April 2011.  During the month, 1 out of every 696 homes in St. Louis had a foreclosure filing.

Foreclosure starts down in U.S., but up in more than half the states
After three straight monthly increases, U.S. foreclosure starts decreased 4 percent from March to April. A total of 97,665 properties started the foreclosure process for the first time during the month, down 2 percent from April 2011. At the state level, 26 states had increased monthly foreclosure starts in April and 27 states saw an increase in April from the year before. States with the biggest annual increases in foreclosure starts included New Jersey (180 percent), Utah (179 percent), Indiana (49 percent), Pennsylvania (44 percent), Florida (43 percent), and Michigan (42 percent).

Bank repossessions decrease for third straight month- Nevada and Arizona see the largest drops
Bank repossessions (REOs) decreased on a monthly basis for the third straight month in April, down 7 percent from March. Lenders completed the foreclosure process on 51,415 U.S. properties during the month, down 26 percent from April 2011 — the 18th consecutive month with a year-over-year decrease in REOs.

REO activity decreased on an annual basis in 37 states and the District of Columbia, while 28 states posted monthly drops in foreclosure activity. States with the biggest year-over-year decreases in REO activity included Nevada (71 percent), Arizona (70 percent), Washington (67 percent), California (52 percent), Virginia (47 percent), and Maryland (47 percent).

11 of 20 largest metros post annual increases in foreclosure activity-Tampa and Miami post the two largest increases
Eleven of the nation’s 20 largest metro areas based on population documented annual increases in foreclosure activity, led by the Florida cities of Tampa (59 percent) and Miami (38 percent). Other cities with increases included St. Louis (29 percent), Chicago (26 percent), Philadelphia (24 percent), and Atlanta (21 percent).

Among the 20 largest metros areas, cities posting the biggest annual drops in foreclosure activity included Seattle (54 percent), Phoenix (44 percent), San Francisco (34 percent), Washington, D.C. (30 percent), Riverside-San Bernardino, Calif., (30 percent), and Los Angeles (28 percent).

The metro areas with the highest foreclosure rates among the 20 largest were Riverside-San Bernardino (one in every 213 housing units with a foreclosure filing), Miami (one in every 273 housing units), Atlanta (one in every 298 housing units), Phoenix (one in every 313 housing units), and Tampa (one in every 315 housing units).

The 11 cities with annual increases in foreclosure activity were all in the Midwest, South or on the East Coast, while six of the nine cities with annual decreases were in the western states of California, Arizona and Washington.

Foreclosure Activity in 20 Largest U.S. Metros – April 2012

 

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                                 April 2012                                 
                                 Properties                                 
                                    with     1/every X  % Change   % Change 
                                Foreclosure   Housing   from Mar   from Apr 
MSA Name                          Filings      Units       12         11    
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Riverside-San Bernardino, CA          7,049        213     -10.81     -29.97
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Miami                                 9,031        273      -9.18      38.43
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Atlanta                               7,271        298     -11.07      21.30
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Phoenix                               5,755        313     -22.64     -44.44
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Tampa                                 4,295        315      18.19      59.02
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Chicago                              11,840        321      -7.63      25.52
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Detroit                               5,201        363       3.90   -32.22**
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San Diego                             2,960        394      -6.12     -18.68
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Los Angeles                          10,906        412     -10.85     -28.26
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San Francisco                         3,391        514     -18.88     -33.68
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Minneapolis                           2,497        543      17.29       3.44
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St. Louis                             1,793        696      -0.33      28.53
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Dallas                                3,376        741      11.68      17.84
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Houston                               2,741        842      -0.72      -2.46
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Boston                                1,961        960      46.67       2.35
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Philadelphia                          2,444        996     -11.96      24.31
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Seattle                               1,172      1,249      -8.58     -54.24
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Washington, D.C.                      1,530      1,447      -7.89     -30.23
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Baltimore                               637      1,777       9.64      20.42
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New York                              2,812      2,677      -7.62       7.25
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