RealtyTrac® released its U.S. Foreclosure Market Reportâ„¢ for the first quarter of 2010, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 932,234 U.S. properties during the first quarter of 2010, an increase of 16 percent from the first quarter of 2009 (which, I should remind you, was up 24 percent from the first quarter of 2008).
According to the report, the 20 metro areas with the highest rates of foreclosures were still contained to four states:
- California – 10 of the top 20 metro foreclosure rates
- Florida – 7 of the top 20 metro foreclosure rates
- Nevada – 2 of the top 20 metro foreclosure rates
- Arizona – 1 of the top 20 metro foreclosure rates
The year-over-year foreclosure rate declined in 14 of the 20 top metro areas and in eight of the cities in the top 10, so there is some encouragement for these four states that have been hammered by foreclosures.
“The decreasing foreclosure activity in some of the nation’s top foreclosure hot spots in the first quarter is largely the result of government intervention and other non-market influences, and not a sure signal that those areas are out of the woods yet when it comes to foreclosures,” said James J. Saccacio, chief executive officer of RealtyTrac. “For example, the federal government’s new program designed to encourage short sales, which was launched April 5, may have caused some lenders to delay initiating foreclosure against distressed properties — particularly in hard-hit housing markets where a short sale costs less than a foreclosure.”
Top 10 metro foreclosure rates:
- Las Vegas continued to post the nation’s highest metro foreclosure rate in the first quarter, with one in 28 housing units receiving a foreclosure filing (3.51 percent) — 4.9 times the national average. A total of 28,480 Las Vegas housing units received a foreclosure filing during the quarter, an increase of nearly 13 percent from the previous quarter but a decrease of 19 percent from the first quarter of 2009.
- Modesto, Calif., foreclosure activity decreased 13 percent from the first quarter of 2009, but the metro area still documented the nation’s second highest metro foreclosure rate, with one in every 34 housing units receiving a foreclosure filing (2.93 percent).
- Cape Coral-Fort Myers, Florida, #3 with one in every 35 housing units receiving a foreclosure filing (2.82 percent)
- Riverside-San Bernardino, Calif., #4 (2.82 percent)
- Stockton, Calif.,#5 (2.77 percent)
- Merced, Calif., # 6 (2.76 percent)
- Phoenix-Mesa-Scottsdale, Ariz., #7 (2.63 percent)
- Vallejo-Fairfield, Calif., # 8 (2.41 percent)
- Bakersfield, Calif., # 9 (2.33 percent).
- Orlando-Kissimmee, Florida, #10 (2.30 percent)
Cities outside Sun Belt post big increases:
Several cities in the top 100 but not in the top 20 posted substantial year-over-year increases, continuing the trend of foreclosure activity spreading to areas previously protected from the brunt of the real estate slump.
Foreclosure activity increased nearly 171 percent from the first quarter of 2009 in Columbia, S.C., and the city’s foreclosure rate ranked No. 99, with one in every 202 housing units receiving a foreclosure filing.
Baltimore’s first quarter foreclosure rate was also below the national average, with one in every 170 housing units receiving a foreclosure filing, but the city’s foreclosure activity increased nearly 141 percent from the first quarter of 2009.
Salt Lake City and Charlotte, N.C. also posted year-over-year increases in foreclosure activity of more than 100 percent.
Q1 2010 U.S. Metro Foreclosure Market Data
---------------------------------------------------------------------------- Properties Rate with 1/every %Housing Rank Metro Name Filings X HU Units ---------------------------------------------------------------------------- -- U.S. Total 932,234 138 0.72 ---------------------------------------------------------------------------- 1 Las Vegas-Paradise, NV 28,480 28 3.51 ---------------------------------------------------------------------------- 2 Modesto, CA 5,138 34 2.93 ---------------------------------------------------------------------------- 3 Cape Coral-Fort Myers, FL 10,295 35 2.82 ---------------------------------------------------------------------------- 4 Riverside-San Bernardino-Ontario, CA 40,998 36 2.81 ---------------------------------------------------------------------------- 5 Stockton, CA 6,327 36 2.77 ---------------------------------------------------------------------------- 6 Merced, CA 2,307 36 2.76 ---------------------------------------------------------------------------- 7 Phoenix-Mesa-Scottsdale, AZ 45,198 38 2.63 ---------------------------------------------------------------------------- 8 Vallejo-Fairfield, CA 3,622 42 2.41 ---------------------------------------------------------------------------- 9 Bakersfield, CA 6,343 43 2.33 ---------------------------------------------------------------------------- 10 Orlando-Kissimmee, FL 20,726 43 2.30 ---------------------------------------------------------------------------- 11 Miami-Fort Lauderdale-Pompano Beach, FL 52,224 46 2.15 ---------------------------------------------------------------------------- 12 Reno-Sparks, NV 3,776 48 2.09 ---------------------------------------------------------------------------- 13 Sacramento--Arden-Arcade--Roseville, CA 17,439 49 2.04 ---------------------------------------------------------------------------- 14 Port St. Lucie, FL 4,211 49 2.02 ---------------------------------------------------------------------------- 15 Visalia-Porterville, CA 2,451 56 1.78 ---------------------------------------------------------------------------- 16 Lakeland, FL 4,948 57 1.76 ---------------------------------------------------------------------------- 17 Fresno, CA 5,391 57 1.75 ---------------------------------------------------------------------------- 18 Naples-Marco Island, FL 3,343 58 1.72 ---------------------------------------------------------------------------- 19 Salinas, CA 2,374 59 1.69 ---------------------------------------------------------------------------- 20 Deltona-Daytona Beach-Ormond Beach, FL 4,181 59 1.68 ---------------------------------------------------------------------------- 21 Sarasota-Bradenton-Venice, FL 6,371 61 1.63 ---------------------------------------------------------------------------- 22 Boise City-Nampa, ID 3,867 62 1.61 ---------------------------------------------------------------------------- 23 Prescott, AZ 1,614 66 1.52 ---------------------------------------------------------------------------- 24 Palm Bay-Melbourne-Titusville, FL 4,055 66 1.52 ---------------------------------------------------------------------------- 25 Detroit-Warren-Livonia, MI 28,375 67 1.49 ---------------------------------------------------------------------------- 26 Tampa-St. Petersburg-Clearwater, FL 19,284 69 1.46 ---------------------------------------------------------------------------- 27 San Diego-Carlsbad-San Marcos, CA 16,570 69 1.46 ---------------------------------------------------------------------------- 28 Oxnard-Thousand Oaks-Ventura, CA 3,932 70 1.44 ---------------------------------------------------------------------------- 29 Greeley, CO 1,327 71 1.41 ---------------------------------------------------------------------------- 30 Ocala, FL 2,262 71 1.40 ---------------------------------------------------------------------------- 31 Atlanta-Sandy Springs-Marietta, GA 29,137 74 1.35 ---------------------------------------------------------------------------- 32 Los Angeles-Long Beach-Santa Ana, CA 59,293 75 1.34 ---------------------------------------------------------------------------- 33 Jacksonville, FL 7,814 76 1.31 ---------------------------------------------------------------------------- 34 Provo-Orem, UT 1,920 76 1.31 ---------------------------------------------------------------------------- 35 Salt Lake City, UT 5,155 77 1.29 ---------------------------------------------------------------------------- 36 Fayetteville-Springdale-Rogers, AR-MO 2,373 79 1.27 ---------------------------------------------------------------------------- 37 San Francisco-Oakland-Fremont, CA 19,439 87 1.14 ---------------------------------------------------------------------------- 38 Santa Rosa-Petaluma, CA 2,216 90 1.12 ---------------------------------------------------------------------------- 39 Chicago-Naperville-Joliet, IL-IN-WI 42,043 90 1.11 ---------------------------------------------------------------------------- 40 San Jose-Sunnyvale-Santa Clara, CA 6,965 91 1.10 ---------------------------------------------------------------------------- 41 Rockford, IL 1,583 91 1.10 ---------------------------------------------------------------------------- 42 Tucson, AZ 4,599 93 1.08 ---------------------------------------------------------------------------- 43 Flint, MI 2,127 93 1.08 ---------------------------------------------------------------------------- 44 Chico, CA 1,013 94 1.06 ---------------------------------------------------------------------------- 45 Medford, OR 932 95 1.06 ---------------------------------------------------------------------------- 46 Santa Barbara-Santa Maria-Goleta, CA 1,586 96 1.05 ---------------------------------------------------------------------------- 47 Santa Cruz-Watsonville, CA 1,069 97 1.03 ---------------------------------------------------------------------------- 48 San Luis Obispo-Paso Robles, CA 1,174 99 1.01 ---------------------------------------------------------------------------- 49 Denver-Aurora, CO 9,137 116 0.87 ---------------------------------------------------------------------------- 50 Toledo, OH 2,593 116 0.86 ---------------------------------------------------------------------------- 51 Holland-Grand Haven, MI 853 119 0.84 ---------------------------------------------------------------------------- 52 Pensacola-Ferry Pass-Brent, FL 1,638 122 0.82 ---------------------------------------------------------------------------- 53 Ogden-Clearfield, UT 1,440 125 0.80 ---------------------------------------------------------------------------- 54 Indianapolis-Carmel, IN 5,994 126 0.80 ---------------------------------------------------------------------------- 55 Grand Rapids-Wyoming, MI 2,508 127 0.79 ---------------------------------------------------------------------------- 56 Dayton, OH 2,999 127 0.78 ---------------------------------------------------------------------------- 57 Charleston-North Charleston, SC 2,251 128 0.78 ---------------------------------------------------------------------------- 58 Colorado Springs, CO 2,011 128 0.78 ---------------------------------------------------------------------------- 59 Salem, OR 1,121 132 0.76 ---------------------------------------------------------------------------- 60 Columbus, OH 5,876 132 0.76 ---------------------------------------------------------------------------- 61 Savannah, GA 1,115 133 0.75 ---------------------------------------------------------------------------- 62 Cleveland-Elyria-Mentor, OH 7,097 133 0.75 ---------------------------------------------------------------------------- 63 Kansas City, MO-KS 6,417 135 0.74 ---------------------------------------------------------------------------- 64 Canton-Massillon, OH 1,301 137 0.73 ---------------------------------------------------------------------------- 65 Gainesville, FL 846 137 0.73 ---------------------------------------------------------------------------- 66 Ann Arbor, MI 1,046 141 0.71 ---------------------------------------------------------------------------- 67 Portland-Vancouver-Beaverton, OR-WA 6,299 143 0.70 ---------------------------------------------------------------------------- 68 Albuquerque, NM 2,500 146 0.69 ---------------------------------------------------------------------------- 69 Lansing-East Lansing, MI 1,348 146 0.69 ---------------------------------------------------------------------------- 70 Macon, GA 712 146 0.68 ---------------------------------------------------------------------------- 71 Memphis, TN-MS-AR 3,749 148 0.68 ---------------------------------------------------------------------------- 72 Kalamazoo-Portage, MI 965 150 0.66 ---------------------------------------------------------------------------- 73 Worcester, MA 2,082 152 0.66 ---------------------------------------------------------------------------- 74 Greenville-Mauldin-Easley, SC 1,786 153 0.65 ---------------------------------------------------------------------------- 75 Tulsa, OK 2,610 154 0.65 ---------------------------------------------------------------------------- 76 Milwaukee-Waukesha-West Allis, WI 4,205 156 0.64 ---------------------------------------------------------------------------- 77 Washington-Arlington-Alexandria, DC-VA-MD-WV 13,819 156 0.64 ---------------------------------------------------------------------------- 78 Atlantic City, NJ 807 158 0.63 ---------------------------------------------------------------------------- 79 Saginaw-Saginaw Township North, MI 563 158 0.63 ---------------------------------------------------------------------------- 80 Minneapolis-St. Paul-Bloomington, MN-WI 8,305 162 0.62 ---------------------------------------------------------------------------- 81 Little Rock-North Little Rock-Conway, AR 1,760 169 0.59 ---------------------------------------------------------------------------- 82 Baltimore-Towson, MD 6,515 170 0.59 ---------------------------------------------------------------------------- 83 New Haven-Milford, CT 2,010 174 0.57 ---------------------------------------------------------------------------- 84 Dallas-Fort Worth-Arlington, TX 13,637 176 0.57 ---------------------------------------------------------------------------- 85 Akron, OH 1,726 179 0.56 ---------------------------------------------------------------------------- 86 Cincinnati-Middletown, OH-KY-IN 5,064 181 0.55 ---------------------------------------------------------------------------- 87 Tallahassee, FL 871 185 0.54 ---------------------------------------------------------------------------- 88 Charlotte-Gastonia-Concord, NC-SC 3,897 187 0.53 ---------------------------------------------------------------------------- 89 Mobile, AL 964 188 0.53 ---------------------------------------------------------------------------- 90 Bridgeport-Stamford-Norwalk, CT 1,874 188 0.53 ---------------------------------------------------------------------------- 91 Youngstown-Warren-Boardman, OH-PA 1,386 190 0.53 ---------------------------------------------------------------------------- 92 Manchester-Nashua, NH 855 190 0.53 ---------------------------------------------------------------------------- 93 Birmingham-Hoover, AL 2,588 194 0.51 ---------------------------------------------------------------------------- 94 York-Hanover, PA 898 196 0.51 ---------------------------------------------------------------------------- 95 Eugene-Springfield, OR 766 197 0.51 ---------------------------------------------------------------------------- 96 Houston-Sugar Land-Baytown, TX 11,223 199 0.50 ---------------------------------------------------------------------------- 97 Virginia Beach-Norfolk-Newport News, VA-NC 3,445 199 0.50 ---------------------------------------------------------------------------- 98 Richmond, VA 2,557 202 0.50 ---------------------------------------------------------------------------- 99 Columbia, SC 1,566 202 0.49 ---------------------------------------------------------------------------- 100 Green Bay, WI 670 204 0.49 ---------------------------------------------------------------------------- 101 Barnstable Town, MA 762 205 0.49 ---------------------------------------------------------------------------- 102 Providence-New Bedford-Fall River, RI-MA 3,257 208 0.48 ---------------------------------------------------------------------------- 103 Trenton-Ewing, NJ 672 210 0.48 ---------------------------------------------------------------------------- 104 Nashville-Davidson--Murfreesboro--Franklin, TN 3,114 210 0.48 ---------------------------------------------------------------------------- 105 Chattanooga, TN-GA 1,093 211 0.47 ---------------------------------------------------------------------------- 106 Anchorage, AK 664 212 0.47 ---------------------------------------------------------------------------- 107 Augusta-Richmond County, GA-SC 1,077 213 0.47 ---------------------------------------------------------------------------- 108 Montgomery, AL 740 214 0.47 ---------------------------------------------------------------------------- 109 San Antonio, TX 3,569 216 0.46 ---------------------------------------------------------------------------- 110 Honolulu, HI 1,564 216 0.46 ---------------------------------------------------------------------------- 111 St. Louis, MO-IL 5,676 219 0.46 ---------------------------------------------------------------------------- 112 Reading, PA 734 219 0.46 ---------------------------------------------------------------------------- 113 Columbus, GA-AL 576 224 0.45 ---------------------------------------------------------------------------- 114 Springfield, MA 1,270 224 0.45 ---------------------------------------------------------------------------- 115 Boston-Cambridge-Quincy, MA-NH 8,137 225 0.44 ---------------------------------------------------------------------------- 116 Austin-Round Rock, TX 2,908 226 0.44 ---------------------------------------------------------------------------- 117 Oklahoma City, OK 2,314 228 0.44 ---------------------------------------------------------------------------- 118 New Orleans-Metairie-Kenner, LA 1,867 240 0.42 ---------------------------------------------------------------------------- 119 Fort Wayne, IN 738 242 0.41 ---------------------------------------------------------------------------- 120 Fort Collins-Loveland, CO 528 243 0.41 ---------------------------------------------------------------------------- 121 Greensboro-High Point, NC 1,290 245 0.41 ---------------------------------------------------------------------------- 122 Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 9,667 248 0.40 ---------------------------------------------------------------------------- 123 Hartford-West Hartford-East Hartford, CT 1,970 251 0.40 ---------------------------------------------------------------------------- 124 Hagerstown-Martinsburg, MD-WV 456 251 0.40 ---------------------------------------------------------------------------- 125 Norwich-New London, CT 466 251 0.40 ---------------------------------------------------------------------------- 126 Seattle-Tacoma-Bellevue, WA 5,667 253 0.39 ---------------------------------------------------------------------------- 127 Killeen-Temple-Fort Hood, TX 583 254 0.39 ---------------------------------------------------------------------------- 128 Fort Smith, AR-OK 488 255 0.39 ---------------------------------------------------------------------------- 129 South Bend-Mishawaka, IN-MI 550 255 0.39 ---------------------------------------------------------------------------- 130 Myrtle Beach-Conway-North Myrtle Beach, SC 655 264 0.38 ---------------------------------------------------------------------------- 131 Knoxville, TN 1,187 264 0.38 ---------------------------------------------------------------------------- 132 Winston-Salem, NC 781 269 0.37 ---------------------------------------------------------------------------- 133 Appleton, WI 336 269 0.37 ---------------------------------------------------------------------------- 134 McAllen-Edinburg-Mission, TX 916 277 0.36 ---------------------------------------------------------------------------- 135 Boulder, CO 442 281 0.36 ---------------------------------------------------------------------------- 136 Laredo, TX 250 283 0.35 ---------------------------------------------------------------------------- 137 Gulfport-Biloxi, MS 369 287 0.35 ---------------------------------------------------------------------------- 138 Springfield, MO 647 288 0.35 ---------------------------------------------------------------------------- 139 Davenport-Moline-Rock Island, IA-IL 568 292 0.34 ---------------------------------------------------------------------------- 140 Allentown-Bethlehem-Easton, PA-NJ 1,149 292 0.34 ---------------------------------------------------------------------------- 141 Madison, WI 842 294 0.34 ---------------------------------------------------------------------------- 142 Raleigh-Cary, NC 1,470 300 0.33 ---------------------------------------------------------------------------- 143 Bremerton-Silverdale, WA 334 305 0.33 ---------------------------------------------------------------------------- 144 Topeka, KS 339 306 0.33 ---------------------------------------------------------------------------- 145 Clarksville, TN-KY 361 307 0.33 ---------------------------------------------------------------------------- 146 Louisville/Jefferson County, KY-IN 1,741 317 0.32 ---------------------------------------------------------------------------- 147 Springfield, IL 304 318 0.31 ---------------------------------------------------------------------------- 148 Olympia, WA 311 330 0.30 ---------------------------------------------------------------------------- 149 Pittsburgh, PA 3,246 341 0.29 ---------------------------------------------------------------------------- 150 Corpus Christi, TX 502 354 0.28 ---------------------------------------------------------------------------- 151 Baton Rouge, LA 891 367 0.27 ---------------------------------------------------------------------------- 152 New York-Northern New Jersey-Long Island, NY-NJ-PA 20,139 368 0.27 ---------------------------------------------------------------------------- 153 Las Cruces, NM 211 369 0.27 ---------------------------------------------------------------------------- 154 Spartanburg, SC 331 369 0.27 ---------------------------------------------------------------------------- 155 Omaha-Council Bluffs, NE-IA 958 369 0.27 ---------------------------------------------------------------------------- 156 Roanoke, VA 362 387 0.26 ---------------------------------------------------------------------------- 157 Amarillo, TX 254 391 0.26 ---------------------------------------------------------------------------- 158 Des Moines-West Des Moines, IA 599 392 0.26 ---------------------------------------------------------------------------- 159 Scranton--Wilkes-Barre, PA 655 395 0.25 ---------------------------------------------------------------------------- 160 Waco, TX 229 406 0.25 ---------------------------------------------------------------------------- 161 Poughkeepsie-Newburgh-Middletown, NY 602 411 0.24 ---------------------------------------------------------------------------- 162 Brownsville-Harlingen, TX 347 420 0.24 ---------------------------------------------------------------------------- 163 Lancaster, PA 429 455 0.22 ---------------------------------------------------------------------------- 164 Huntsville, AL 376 455 0.22 ---------------------------------------------------------------------------- 165 Lafayette, LA 240 468 0.21 ---------------------------------------------------------------------------- 166 Peoria, IL 339 482 0.21 ---------------------------------------------------------------------------- 167 Cedar Rapids, IA 229 488 0.20 ---------------------------------------------------------------------------- 168 Champaign-Urbana, IL 200 494 0.20 ---------------------------------------------------------------------------- 169 Sioux Falls, SD 186 503 0.20 ---------------------------------------------------------------------------- 170 Shreveport-Bossier City, LA 341 510 0.20 ---------------------------------------------------------------------------- 171 Portland-South Portland-Biddeford, ME 493 521 0.19 ---------------------------------------------------------------------------- 172 Wichita, KS 463 562 0.18 ---------------------------------------------------------------------------- 173 Evansville, IN-KY 275 584 0.17 ---------------------------------------------------------------------------- 174 Beaumont-Port Arthur, TX 279 585 0.17 ---------------------------------------------------------------------------- 175 Tyler, TX 126 617 0.16 ---------------------------------------------------------------------------- 176 Spokane, WA 316 624 0.16 ---------------------------------------------------------------------------- 177 Duluth, MN-WI 209 659 0.15 ---------------------------------------------------------------------------- 178 Rochester, NY 662 668 0.15 ---------------------------------------------------------------------------- 179 Yakima, WA 122 686 0.15 ---------------------------------------------------------------------------- 180 El Paso, TX 374 687 0.15 ---------------------------------------------------------------------------- 181 Erie, PA 172 688 0.15 ---------------------------------------------------------------------------- 182 Houma-Bayou Cane-Thibodaux, LA 119 693 0.14 ---------------------------------------------------------------------------- 183 Jackson, MS 305 731 0.14 ---------------------------------------------------------------------------- 184 Harrisburg-Carlisle, PA 295 787 0.13 ---------------------------------------------------------------------------- 185 Durham, NC 273 792 0.13 ---------------------------------------------------------------------------- 186 Kennewick-Richland-Pasco, WA 108 805 0.12 ---------------------------------------------------------------------------- 187 Hickory-Lenoir-Morganton, NC 193 821 0.12 ---------------------------------------------------------------------------- 188 Lynchburg, VA 133 822 0.12 ---------------------------------------------------------------------------- 189 Lexington-Fayette, KY 240 854 0.12 ---------------------------------------------------------------------------- 190 Kingsport-Bristol-Bristol, TN-VA 169 866 0.12 ---------------------------------------------------------------------------- 191 Binghamton, NY 120 921 0.11 ---------------------------------------------------------------------------- 192 Lubbock, TX 117 1017 0.10 ---------------------------------------------------------------------------- 193 Longview, TX 82 1038 0.10 ---------------------------------------------------------------------------- 194 Buffalo-Niagara Falls, NY 482 1082 0.09 ---------------------------------------------------------------------------- 195 Wilmington, NC 182 1105 0.09 ---------------------------------------------------------------------------- 196 Huntington-Ashland, WV-KY-OH 117 1132 0.09 ---------------------------------------------------------------------------- 197 Albany-Schenectady-Troy, NY 310 1230 0.08 ---------------------------------------------------------------------------- 198 Asheville, NC 163 1242 0.08 ---------------------------------------------------------------------------- 199 College Station-Bryan, TX 57 1555 0.06 ---------------------------------------------------------------------------- 200 Tuscaloosa, AL 59 1638 0.06 ---------------------------------------------------------------------------- 201 Lincoln, NE 73 1703 0.06 ---------------------------------------------------------------------------- 202 Fayetteville, NC 69 2222 0.05 ---------------------------------------------------------------------------- 203 Syracuse, NY 127 2254 0.04 ---------------------------------------------------------------------------- 204 Burlington-South Burlington, VT 13 6864 0.01 ---------------------------------------------------------------------------- 205 Charleston, WV 18 8087 0.01 ---------------------------------------------------------------------------- 206 Utica-Rome, NY 11 12369 0.01 ----------------------------------------------------------------------------
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