St. Louis foreclosures on the rise

st-louis-realtor-dennis-norman-real-estate-foreclosuresThis morning, RealtyTrac released their U.S. Foreclosure Market Report for June 2012 which shows that foreclosure filings (default notices, scheduled auctions and bank repossessions) we’re reported on 1,785 properties in St. Louis during the month, a 4.65 percent increase from the previous month and an increase of 7.27 percent from June 2011. During the month, 1 out of every 699 homes in St. Louis had a foreclosure filing.  For the first half of 2012, there have been 9,672 St. Louis foreclosure filings, up from 8,786 from the 2nd half of 2011 and up from 8.933 from the first half of 2011.
Foreclosure activity in U.S. for first half of 2012 increases in 20 states

The reports shows there were foreclosure filings on 1,045,801 U.S. properties during the first half of 2012, an increase of 2 percent from the previous 6 months but down 11 percent from the first half of 2011.

Highlights of U.S. Foreclosure report for first half of 2012:

  • First-half foreclosure activity did increase from a year ago in 20 states, including Indiana (32 percent), Pennsylvania (24 percent), South Carolina (23 percent), Connecticut (23 percent), Florida (23 percent), and Illinois (22 percent).
  • Overall foreclosure activity was down in the second quarter, driven primarily by a drop in bank repossessions (REOs), but 311,010 properties started the foreclosure process during the quarter, a 9 percent increase from the previous quarter and a 6 percent increase from the second quarter of 2011 — the first year-over-year increase in quarterly foreclosure starts since the fourth quarter of 2009.
  • A total of 31 states posted year-over-year increases in foreclosure starts in the first quarter — 17 judicial foreclosure states and 14 non-judicial foreclosure states.
  • Overall foreclosure activity in June decreased on a year-over-year basis for the 21st consecutive month, but foreclosure starts for the month increased annually for the second consecutive month.
  • An 18 percent year-over-year increase in California foreclosure starts in June helped boost that state’s foreclosure rate to highest nationwide for the month. It was the first month California’s foreclosure rate ranked No. 1 since RealtyTrac began issuing its report in January 2005.


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