RealtyTrac, a data provider and an online marketplace for foreclosure properties, released its Quarter Three-2007 U.S. Foreclosure Market Report on Thursday, which shows the number of foreclosure filings jumping 30-percent between the second and third quarter—and nearly 100-percent when compared to last year.
When looking at the actual number of foreclosure filings—which include default notices, auction sale notices and bank repossessions—RealtyTrac says nationwide there were 635,159 foreclosure filings during the third quarter involving 446,726 individual properties.
“August and September were the two highest monthly foreclosure filing totals we've seen since we began issuing our report in January 2005,” said James J. Saccacio, chief executive officer of RealtyTrac. “Although not all areas are being hit as hard as others, the rise in foreclosures is quite widespread, with 45 out of 50 states documenting year-over-year increases in the third quarter. Given the number of loans due to reset through the middle of 2008, and the continuing weakness in home sales, we would expect foreclosure activity to remain high and even increase over the next year in many markets.”
A regional breakdown from RealtyTrac indicates that the states of Nevada, California, and Florida topped the firm's list of states with the highest foreclosure rates for the third quarter. Meanwhile, California, Florida and Ohio ranked the highest in the nation for having the most foreclosure filings during the third quarter.
Source: DSNews.com
When looking at the actual number of foreclosure filings—which include default notices, auction sale notices and bank repossessions—RealtyTrac says nationwide there were 635,159 foreclosure filings during the third quarter involving 446,726 individual properties.
“August and September were the two highest monthly foreclosure filing totals we've seen since we began issuing our report in January 2005,” said James J. Saccacio, chief executive officer of RealtyTrac. “Although not all areas are being hit as hard as others, the rise in foreclosures is quite widespread, with 45 out of 50 states documenting year-over-year increases in the third quarter. Given the number of loans due to reset through the middle of 2008, and the continuing weakness in home sales, we would expect foreclosure activity to remain high and even increase over the next year in many markets.”
A regional breakdown from RealtyTrac indicates that the states of Nevada, California, and Florida topped the firm's list of states with the highest foreclosure rates for the third quarter. Meanwhile, California, Florida and Ohio ranked the highest in the nation for having the most foreclosure filings during the third quarter.
Source: DSNews.com
No comments:
Post a Comment