Realtytrac Foreclosure Rates Properties James J. Saccacio
Indianapolis, Atlanta, Dallas, Memphis and Denver Again Top List of Nation's Ten
Highest Metropolitan Foreclosure Rates
Four Texas Cities Now in Top 10 List; Majority of Metros Post Decline in
Foreclosure Activity
IRVINE, Calif., Aug. 9 -- RealtyTrac(TM)
(http://www.realtytrac.com), the leading online marketplace for foreclosure
properties, today released its Q2 2006 U.S. Metropolitan Foreclosure Market
Report, which shows Indianapolis, Atlanta and Dallas posted the nation's
three highest metropolitan foreclosure rates in the second quarter of 2006,
duplicating the top three metro foreclosure rates from the previous
quarter.
The report, which ranks the foreclosure rates of the nation's 100
largest metropolitan areas, shows that three other cities -- Denver,
Memphis, Tenn., and San Antonio -- also registered foreclosure rates among
the nation's top 10 for the second quarter in a row. The remaining four
cities in the top 10 were new: Stockton, Calif., Salt Lake City and the
Texas cities of Austin and Houston.
RealtyTrac publishes the largest national database of pre-foreclosure
and foreclosure properties, with more than 600,000 properties in more than
2,500 counties across the country, and is the foreclosure data provider to
MSN Real Estate, Yahoo! Real Estate, AOL Real Estate and Knight Ridder
Online.
"Four Texas cities now have foreclosure rates ranking among the top 10
thanks to increasing foreclosures in Austin and Houston during the second
quarter," said James J. Saccacio, chief executive officer of RealtyTrac.
"But the increase in those two cities was not the norm. The majority of
metros we track, along with the nation as a whole, reported fewer
foreclosures compared to the previous quarter."
Of the cities with the 10 highest foreclosure rates, Houston, Austin
and Stockton were the only ones to report increasing foreclosure activity
in the second quarter. Houston led the way with 11,659 properties entering
some stage of foreclosure, a 40 percent increase from the previous quarter.
Austin reported a 7 percent increase, and Stockton reported a 2 percent
increase.
Indianapolis, Atlanta and Dallas all documented second-quarter
foreclosure rates that were more than three times the national average, and
the remainder of the top 10 cities documented foreclosure rates that were
more than twice the national average. With 18,290 properties entering some
stage of foreclosure during the quarter, Dallas reported the highest number
of new foreclosure filings among the 100 largest metros.
Top 10 Metro Foreclosure Rates - Q2 2006
Metro Area % of households #households for
in foreclosure every foreclosure /National Avg.
1. Indianapolis 0.987 101 3.532
2. Atlanta 0.904 111 3.235
3. Dallas 0.891 112 3.188
4. Denver 0.784 128 2.807
5. Austin, Texas 0.706 142 2.528
6. Houston 0.691 145 2.472
7. Memphis, Tenn. 0.682 147 2.440
8. Stockton, Calif. 0.649 154 2.323
9. Salt Lake City 0.607 165 2.171
10. San Antonio 0.601 166 2.151
The majority of the 100 largest metros documented decreasing
foreclosure activity in the second quarter, but there were some notable
exceptions. Chicago reported a 60 percent increase from the previous
quarter, and the city's foreclosure rate of one new foreclosure filing for
every 198 households ranked 17th highest. San Francisco reported a 23
percent increase in foreclosure activity, and Washington-Baltimore reported
a 6 percent increase in foreclosure activity, but foreclosure rates in both
cities ranked among the bottom 50.
Foreclosure rates in Los Angeles and New York City ranked 50th and 54th
respectively, and foreclosure activity declined in both metropolitan areas
during the second quarter. New York reported 15,195 properties entering
some stage of foreclosure during the quarter, a 12 percent decrease from
the previous quarter, and Los Angeles reported 11,973 properties entering
some stage of foreclosure, a 22 percent decrease from the previous quarter.
The RealtyTrac 2006 U.S. Metropolitan Foreclosure Market Report
provides the total number of properties entering some stage of foreclosure
in each of the nation's 100 largest Metropolitan Statistical Areas.
RealtyTrac's report includes properties in all three phases of foreclosure:
Pre-foreclosures -- Notice of Default (NOD) and Lis Pendens (LIS);
Foreclosures -- Notice of Trustee Sale and Notice of Foreclosure Sale (NTS
and NFS); and Real Estate Owned, or REO properties (that have been
re-purchased by a bank).
Foreclosure statistics for the nation's 100 largest MSAs - Q2 2006
Foreclosure Q2 2006 1/every /Natl %Change
rate rank MSA Total #households Avg from Q1
-- US 272,109 425 -- -15.78
1 Indianapolis, IN 6,878 101 3.532 -32.036
2 Atlanta, GA 12,926 111 3.235 -36.497
3 Dallas-Fort Worth, TX 18,290 112 3.188 -11.851
4 Denver-Boulder-Greeley,
CO 7,778 128 2.807 -17.858
5 Austin-San Marcos, TX 3,504 142 2.528 7.222
6 Houston-Galveston-
Brazoria, TX 11,659 145 2.472 39.528
7 Memphis, TN-AR-MS 3,849 147 2.440 -30.935
8 Stockton-Lodi, CA 1,228 154 2.323 2.163
9 Salt Lake City-Ogden,
UT 2,954 165 2.171 -1.138
10 San Antonio, TX 3,298 166 2.151 -19.932
11 Miami-Fort Lauderdale,
FL 9,277 172 2.084 14.164
12 Colorado Springs, CO 1,340 175 2.042 -11.726
13 Detroit-Ann Arbor-Flint,
MI 11,854 186 1.921 -35.583
14 Albuquerque, NM 1,580 189 1.894 -4.474
15 Jacksonville, FL 2,434 195 1.834 -31.992
16 Canton-Massillon, OH 870 195 1.831 -28.571
17 Chicago-Gary-Kenosha,
IL-IN-WI 17,467 198 1.806 60.057
18 Las Vegas, NV-AZ 3,485 200 1.792 -29.907
19.5 Cleveland-Akron, OH 6,205 201 1.782 -22.116
19.5 Modesto, CA MSA 751 201 1.782 64.693
21 Fort Wayne, IN 989 209 1.716 -20.498
22 West Palm Beach-
Boca Raton, FL 2,642 211 1.699 -1.271
23 Columbus, OH 3,087 220 1.624 -32.920
24 Tulsa, OK 1,539 222 1.613 -8.881
25 Portland-Salem, OR-WA 3,943 228 1.570 188.864
26 Sacramento-Yolo, CA 3,124 229 1.564 24.264
27 Orlando, FL 2,923 237 1.513 -18.851
28 Little Rock-
North Little Rock, AR 1,047 246 1.457 -29.732
29 Augusta-Aiken, GA-SC 753 248 1.442 -16.054
30 Oklahoma City, OK 1,923 260 1.378 -21.027
31 Dayton-Springfield, OH 1,575 270 1.325 -40.745
32 Lakeland-Winter Haven, FL 830 273 1.312 -28.263
33 Lansing-East Lansing, MI 637 285 1.254 -17.700
34 Toledo, OH 951 305 1.172 -31.087
35 Tampa-St. Petersburg-
Clearwater, FL 3,654 313 1.144 -22.716
36 Grand Rapids-Muskegon,
MI 1,375 325 1.100 -15.019
37 Phoenix-Mesa, AZ 4,054 328 1.090 -5.852
38 El Paso, TX 670 335 1.068 -13.548
39 Charlotte-Gastonia-
Rock Hill, NC-SC 1,852 338 1.059 -36.684
40 Tucson, AZ 986 372 0.962 -17.765
41 Fresno, CA 822 379 0.945 54.221
42 Philadelphia-Wilmington-
Atlantic City,
PA-NJ-DE-MD 5,424 384 0.932 -32.921
43 San Diego, CA 2,596 401 0.893 -7.451
44.5 Louisville, KY-IN 1,040 407 0.879 12.311
44.5 Saginaw-Bay City-
Midland, MI 407 407 0.879 -26.799
46 Kalamazoo-Battle Creek,
MI 448 428 0.835 -29.449
47 Hartford, CT NECMA -
Pop. 1,105,174 1,198 431 0.831 68.732
48 Cincinnati-Hamilton,
OH-KY-IN 1,919 434 0.824 -13.714
49 Pittsburgh, PA 2,476 436 0.822 -37.820
50 Los Angeles-Riverside-
Orange County, CA 11,973 453 0.790 -22.122
51 Seattle-Tacoma-
Bremerton, WA 2,760 467 0.767 -10.273
52 Raleigh-Durham-
Chapel Hill, NC 1,061 467 0.766 -37.293
53 St. Louis, MO-IL 2,434 470 0.761 -36.615
54 New York-No. New
Jersey-Long Island,
NY-NJ-CT-PA 15,195 494 0.725 -12.142
55 Sarasota-Bradenton, FL 649 494 0.724 -19.077
56 Nashville, TN 1,145 501 0.715 -45.424
57 Pensacola, FL 346 502 0.713 -30.522
58 Kansas City, MO-KS 1,459 539 0.664 -24.871
59 Chattanooga, TN-GA 379 542 0.661 -45.231
60 Youngstown-Warren, OH 464 545 0.656 -64.114
61 San Francisco-Oakland-
San Jose, CA 4,103 557 0.643 23.102
62 Greenville-
Spartanburg-Anderson,
SC 780 566 0.632 -20.892
63 Melbourne-Titusville-
Palm Bay, FL 381 583 0.614 -28.518
64 Wichita, KS 400 596 0.600 124.719
65 Bakersfield, CA 386 600 0.597 -27.170
66 Daytona Beach, FL 342 620 0.577 -49.632
67 Knoxville, TN 495 659 0.543 -40.217
68 Springfield, MA 383 722 0.496 140.881
69 Greensboro-Winston-
Salem-High Point, NC 767 751 0.476 -29.826
70 Milwaukee-Racine, WI 904 767 0.467 -27.680
71 Birmingham, AL 512 824 0.434 175.269
72 Des Moines, IA 225 886 0.404 -38.187
73 Minneapolis-St. Paul,
MN-WI 1,300 958 0.374 28.586
74 Spokane, WA 179 978 0.366 -50.278
75 Buffalo-Niagara Falls,
NY 504 1,015 0.353 11.258
76 Syracuse, NY 307 1,021 0.350 42.791
77 Charleston-North
Charleston, SC 210 1,109 0.323 -60.302
78 Johnson City
-Kingsport-Bristol,
TN-VA 158 1,182 0.303 -39.231
79.5 Rochester, NY 381 1,185 0.302 -55.954
79.5 Harrisburg-Lebanon-
Carlisle, PA 183 1,186 0.302 -33.935
81 Boston-Worcester-
Lawrence-Lowell-
Brockton, MA-NH 1,823 1,243 0.288 181.762
82 Providence-Warwick-
Pawtucket, RI 327 1,345 0.266 3533.333
83 Columbia, SC 129 1,374 0.260 -53.597
84 Santa Barbara-
Santa Maria-Lompoc, CA 102 1,401 0.255 -27.143
85 Albany-Schenectady-
Troy, NY 255 1,515 0.236 174.194
86 Allentown-Bethlehem-
Easton, PA 140 1,901 0.188 -37.500
87 Washington-Baltimore,
DC-MD-VA-WV 1,509 1,977 0.181 5.598
88 Lancaster, PA 88 2,045 0.175 -61.572
89 Omaha, NE-IA 146 2,116 0.169 -72.453
90 Honolulu, HI 145 2,179 0.164 85.897
91 McAllen-Edinburg-Mission,
TX 75 2,569 0.139 -52.830
92 Madison, WI 64 2,819 0.127 220.000
93 Norfolk-Virginia Beach-
Newport News, VA-NC 219 2,843 0.126 -5.195
94 Mobile, AL 70 3,420 0.105 79.487
95 Baton Rouge, LA 79 3,470 0.103 19.697
96 Richmond-Petersburg, VA 105 4,144 0.086 -27.083
97 Lexington, KY 35 5,008 0.071 -7.895
98 New Orleans, LA 117 5,171 0.069 14.706
99 Jackson, MS 32 6,142 0.058 -20.000
100 Scranton-Wilkes-Barre-
Hazleton, PA 35 8,014 0.045 -89.362
About RealtyTrac Inc.
Ranked as the third largest real estate site by MediaMetrix, RealtyTrac
Inc. (http://www.realtytrac.com), is the leading online marketplace for
foreclosure properties, providing all the resources that home seekers,
investors and real estate agents need to locate, evaluate and buy
properties below market value. Founded in 1996, RealtyTrac publishes the
largest and most comprehensive national database of pre-foreclosure,
foreclosure, For Sale By Owner, resale and new construction properties,
with more than 1 million properties across the country, property reports,
productivity tools and extensive professional resources. RealtyTrac hosts
nearly 3 million unique visitors monthly and has been chosen to supply
foreclosure data to AOL Real Estate, MSN Real Estate and Yahoo! Real
Estate. For more information, visit http://www.realtytrac.com.
