St Louis Foreclosure Activity Increases In May

st-louis-realtor-dennis-norman-real-estate-foreclosuresThis morning, RealtyTrac released their U.S. Foreclosure Market Report for May 2012 which shows that foreclosure filings (default notices, scheduled auctions and bank repossessions) we’re reported on 1,872 properties in St. Louis during the month, a 4.41 percent increase from the previous month and an increase of 16.71 percent from May 2011. During the month, 1 out of every 667 homes in St. Louis had a foreclosure filing.
Foreclosure activity in U.S. decreases on a year-over-year basis for the 20th straight month

The reports shows there were foreclosure filings on 205,990 U.S. properties in May, an increase of 9 percent from April but still down 4 percent from May 2011. The report also shows one in every 639 U.S. housing units with a foreclosure filing during the month.

“U.S. foreclosure activity has now decreased on a year-over-basis for 20 straight months including May, but the jump in May foreclosure starts shows that it’s going to be a bumpy ride down to the bottom of this foreclosure cycle,” said Brandon Moore, CEO of RealtyTrac. “Based on the rise in pre-foreclosure sales we’ve seen so far this year, a higher percentage of these new foreclosure starts will likely end up as short sales or auction sales to third parties rather than bank repossessions going forward. While pre-foreclosure sales have less of a negative impact on home values than bank-owned sales, they still represent a discounted sale where a distressed homeowner is losing his or her home.

Report highlights:

      • Foreclosure activity rose back up above the 200,000 level in May after two consecutive months below 200,000.
      • Foreclosure starts nationwide increased on an annual basis after 27 consecutive months of year-over-year declines.
      • Judicial states combined posted a 26 percent year-over-year increase in overall foreclosure activity while non-judicial states combined posted a 20 percent year-over-year decrease in foreclosure activity.
      • Foreclosure starts increased on a year-over-year basis in 17 of the 26 judicial states and in 16 of the 24 non-judicial states.
      • Georgia leapfrogged past Arizona, Florida, California and Nevada to post the nation’s highest state foreclosure rate in May, the first time since February 2006 that Georgia’s foreclosure rate has ranked highest among the states.

Foreclosure Starts Increase in 33 of 50 States:

      • Foreclosure starts (default notices or scheduled foreclosure auctions, depending on the state) were filed on 109,051 U.S. properties in May, a 12 percent increase from April and a 16 percent increase from May 2011.
      • Foreclosure starts increased annually in 33 out of the 50 states. States with some of the biggest annual increases in foreclosure starts included the judicial foreclosure states of New Jersey (118 percent), Pennsylvania (97 percent), Florida (83 percent), Massachusetts (60 percent), New York (59 percent), South Carolina (43 percent), Ohio (32 percent) and Illinois (28 percent), and the non-judicial foreclosure states of Tennessee (165 percent), Texas (51 percent), Missouri (35 percent), Georgia (30 percent), and Michigan (24 percent).

 

Print Friendly, PDF & Email

20 comments to St Louis Foreclosure Activity Increases In May

  • … [Trackback]

    […] Read More Info here to that Topic: stlouisrealestatenews.com/st-louis-foreclosures/st-louis-foreclosure-activity-increases-in-may-while-nationwide-activity-drops/ […]

  • … [Trackback]

    […] Information on that Topic: stlouisrealestatenews.com/st-louis-foreclosures/st-louis-foreclosure-activity-increases-in-may-while-nationwide-activity-drops/ […]

  • … [Trackback]

    […] Read More to that Topic: stlouisrealestatenews.com/investment-foreclosures/st-louis-foreclosures/st-louis-foreclosure-activity-increases-in-may-while-nationwide-activity-drops/ […]

  • This web site is really a walk-through for all of the info you wanted about this and didn’t know who to ask. Glimpse here, and you’ll definitely discover it.

  • … [Trackback]

    […] Info to that Topic: stlouisrealestatenews.com/investment-foreclosures/st-louis-foreclosures/st-louis-foreclosure-activity-increases-in-may-while-nationwide-activity-drops/ […]

  • … [Trackback]

    […] Read More here on that Topic: stlouisrealestatenews.com/investment-foreclosures/st-louis-foreclosures/st-louis-foreclosure-activity-increases-in-may-while-nationwide-activity-drops/ […]

  • … [Trackback]

    […] Information to that Topic: stlouisrealestatenews.com/st-louis-foreclosures/st-louis-foreclosure-activity-increases-in-may-while-nationwide-activity-drops/ […]

  • I think this site contains some real good info for everyone :D. “Calamity is the test of integrity.” by Samuel Richardson.

  • There is noticeably a bundle to know about this. I assume you made certain nice points in features also.

  • … [Trackback]

    […] Here you can find 8534 more Information on that Topic: stlouisrealestatenews.com/investment-foreclosures/st-louis-foreclosures/st-louis-foreclosure-activity-increases-in-may-while-nationwide-activity-drops/ […]

  • … [Trackback]

    […] Find More to that Topic: stlouisrealestatenews.com/st-louis-foreclosures/st-louis-foreclosure-activity-increases-in-may-while-nationwide-activity-drops/ […]

  • I’m still learning from you, but I’m making my way to the top as well. I absolutely enjoy reading all that is written on your blog.Keep the stories coming. I enjoyed it!

  • I really appreciate this post. I’ve been looking everywhere for this! Thank goodness I found it on Bing. You’ve made my day! Thx again

  • SEO

    I very like this blog. Everything is cleared.

  • We absolutely love your blog and find the majority of your post’s to be what precisely I’m looking for. Does one offer guest writers to write content for you? I wouldn’t mind publishing a post or elaborating on a few of the subjects you write about here. Again, awesome weblog!

  • I regard something genuinely interesting about your web site so I saved to fav.

  • … [Trackback]

    […] Find More on that Topic: stlouisrealestatenews.com/investment-foreclosures/st-louis-foreclosures/st-louis-foreclosure-activity-increases-in-may-while-nationwide-activity-drops/ […]

  • Hello my family member! I wish to say that this post is amazing, great written and come with almost all significant infos. I’d like to peer extra posts like this .

  • … [Trackback]

    […] There you will find 65790 additional Info to that Topic: stlouisrealestatenews.com/investment-foreclosures/st-louis-foreclosures/st-louis-foreclosure-activity-increases-in-may-while-nationwide-activity-drops/ […]

  • This is really interesting, You’re a very skilled blogger. I’ve joined your feed and look forward to seeking more of your wonderful post. Also, I have shared your web site in my social networks!

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>