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One Out of 62 California Housing Received a Foreclosure Filing in Q1 2010

April 15, 2010 — RealtyTrac® (realtytrac.com), the leading online marketplace for foreclosure properties, foreclosuretoday released its U.S. Foreclosure Market Report™ for Q1 2010 — total 932,234 properties in the first quarter, a 7 percent increase from the previous quarter and a 16 percent increase from the first quarter of 2009.

One in every 138 U.S. housing units received a foreclosure filing during the quarter.

Nevada, Arizona, Florida post top state foreclosure rates in first quarter

  1. Nevada – one in every 33 housing units received a foreclosure filing;
  2. Arizona – one in every 49 housing units received a foreclosure filing;
  3. Florida – one in every 57 housing units received a foreclosure filing;
  4. California – one in every 62 housing units received a foreclosure filing;

California alone accounted for 23 percent of the nation’s total foreclosure activity in the first quarter, with 216,263 properties receiving a foreclosure notice — the nation’s highest foreclosure activity total.

Florida’s total was second highest, with 153,540 properties receiving a foreclosure filing during the quarter.  Arizona’s total was third highest, with 55,686 properties receiving a foreclosure filing during the quarter.

RealtyTrac’s report incorporates documents filed in all three phases of foreclosure:

  1. DefaultNotice of Default (NOD) and Lis Pendens (LIS);
  2. Auction — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS);
  3. Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank).

U.S. Foreclosure Market Data for Top 10 States – Q1 2010

    Properties with Foreclosure Filings    
Rate Rank State Name NOD LIS NTS NFS REO Total 1/every X HH (rate) %Change from Q4 09 %Change from Q1 09

U.S. 121,367 183,432 267,159 102,332 257,944 932,234 138 7.23 16.02

1

Nevada 17,948 0 9,652 0 6,957 34,557 33 14.98 -16.32

2

Arizona 32 0 34,212 0 21,442 55,686 49 22.38 13.37

3

Florida 0 88,072 0 43,418 22,050 153,540 57 7.00 28.79

4

California 83,554 0 86,264 0 46,445 216,263 62 4.73 -6.35

5

Utah 3,881 0 3,748 0 3,127 10,756 88 21.17 75.09

6

Michigan 11,485 0 15,642 1 18,604 45,732 99 10.70 37.81

7

Georgia 0 0 26,304 0 13,607 39,911 101 30.54 39.51

8

Idaho 2,027 0 3,080 0 1,234 6,341 101 -13.56 47.71

9

Illinois 0 20,367 0 10,424 14,989 45,780 115 -4.62 17.49

10

Colorado 49 0 10,671 0 5,303 16,023 134 8.99 27.12

A complete report can be read here, http://www.realtytrac.com/contentmanagement/realtytraclibrary.aspx?channelid=8&itemid=8926 by RealtyTrac Inc.

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