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
---------------------------------------------------------------------------- Properties with Foreclosure Filings ---------------------------------------------------------------------------- % % 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 ---------------------------------------------------------------------------- 34 Alabama 0 0 1,038 0 604 1,642 1,329 -15.92 -8.83 ---------------------------------------------------------------------------- 31 Alaska 0 0 165 0 100 265 1,071 38.74 -15.61 ---------------------------------------------------------------------------- 2 Arizona 7 0 8,997 0 6,753 15,757 175 16.19 -25.14 ---------------------------------------------------------------------------- 19 Arkansas 128 0 1,294 0 486 1,908 687 -3.34 -5.12 ---------------------------------------------------------------------------- Cali- 3 fornia 24,162 0 27,017 0 15,893 67,072 200 1.76 -6.61 ---------------------------------------------------------------------------- 10 Colorado 7 0 3,190 0 1,749 4,946 438 -3.46 -1.65 ---------------------------------------------------------------------------- Connect- 39 icut 0 548 0 60 229 837 1,727 -25.27 -62.26 ---------------------------------------------------------------------------- 20 Delaware 0 0 0 192 376 568 698 28.80 23.48 ---------------------------------------------------------------------------- District of Columbia 0 0 6 0 16 22 12,961 -57.69 -88.54 ---------------------------------------------------------------------------- 9 Florida 0 8,882 0 5,231 7,558 21,671 409 -15.48 -53.96 ---------------------------------------------------------------------------- 7 Georgia 1 0 8,015 0 4,756 12,772 318 15.67 13.29 ---------------------------------------------------------------------------- 11 Hawaii 36 0 555 0 394 985 523 -1.50 -24.35 ---------------------------------------------------------------------------- 4 Idaho 776 0 1,215 0 695 2,686 241 29.38 3.19 ---------------------------------------------------------------------------- 8 Illinois 0 8,345 1 1,908 2,910 13,164 402 -6.25 -27.35 ---------------------------------------------------------------------------- 29 Indiana 0 913 0 1,001 1,075 2,989 940 -16.67 -35.33 ---------------------------------------------------------------------------- 28 Iowa 0 927 5 225 278 1,435 937 -9.12 131.08* ---------------------------------------------------------------------------- 25 Kansas 0 330 0 432 720 1,482 833 38.63* 109.32* ---------------------------------------------------------------------------- 38 Kentucky 0 684 0 248 278 1,210 1,599 21.85* 5.13 ---------------------------------------------------------------------------- 27 Louisiana 0 267 0 1,387 469 2,123 925 19.40* 76.62* ---------------------------------------------------------------------------- 42 Maine 0 78 0 132 136 346 2,036 16.11 -3.08 ---------------------------------------------------------------------------- 37 Maryland 0 279 0 373 906 1,558 1,503 -4.71 -70.20 ---------------------------------------------------------------------------- Massa- 40 chusetts 0 602 6 496 460 1,564 1,757 -4.58 -65.52 ---------------------------------------------------------------------------- Michi- 6 gan 5,274 0 6,724 0 4,718 16,716 272 4.08 -4.88 ---------------------------------------------------------------------------- 26 Minnesota 80 1 1,126 0 1,367 2,574 906 -9.78 -8.50 ---------------------------------------------------------------------------- 46 Mississippi 0 0 123 0 169 292 4,391 -71.48 -29.81 ---------------------------------------------------------------------------- 24 Missouri 2 0 2,153 0 1,107 3,262 822 2.80 10.76 ---------------------------------------------------------------------------- 41 Montana 0 0 135 0 106 241 1,831 -6.95 -39.14 ---------------------------------------------------------------------------- 44 Nebraska 131 0 84 0 60 275 2,880 -0.72 -27.44 ---------------------------------------------------------------------------- 1 Nevada 4,535 0 4,212 0 3,516 12,263 93 -8.97 3.45 ---------------------------------------------------------------------------- New 18 Hampshire 0 0 648 0 253 901 666 99.78* -20.55 ---------------------------------------------------------------------------- New 16 Jersey 0 4,011 0 863 652 5,526 638 12.84 -10.09 ---------------------------------------------------------------------------- New 21 Mexico 0 664 0 235 334 1,233 712 8.16 -3.75 ---------------------------------------------------------------------------- New 43 York 0 2,339 1 302 243 2,885 2,779 10.03 -36.86 ---------------------------------------------------------------------------- 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 ---------------------------------------------------------------------------- 15 Oregon 52 0 1,782 0 964 2,798 586 0.14 -41.85 ---------------------------------------------------------------------------- Pennsyl- 36 vania 0 986 0 1,782 924 3,692 1,495 -22.52 -27.37 ---------------------------------------------------------------------------- Rhode 33 Island 0 0 248 0 131 379 1,193 -26.97 -41.60 ---------------------------------------------------------------------------- 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 ---------------------------------------------------------------------------- 5 Utah 1,372 0 1,303 0 926 3,601 265 8.11 -11.89 ---------------------------------------------------------------------------- 50 Vermont 0 0 11 0 10 21 14,964 40.00 40.00 ---------------------------------------------------------------------------- 32 Virginia 17 0 1,925 0 1,091 3,033 1,098 -11.21 -42.07 ---------------------------------------------------------------------------- 12 Washington 0 0 2,458 0 2,523 4,981 565 23.63 42.52 ---------------------------------------------------------------------------- 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 ---------------------------------------------------------------------------- 45 Wyoming 1 0 21 0 59 81 3,079 1.25 145.45* ----------------------------------------------------------------------------
*Actual increase may not be as high due to data collection changes or improvements
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