Parsons Realty

Full Service - Low Flat Fee

  • Home
  • Real Estate Search
  • Buyers
  • Blog
  • Contact Us
You are here: Home / Blog / RealtyTrac Reports Highest Ever Foreclosure Numbers For August

RealtyTrac Reports Highest Ever Foreclosure Numbers For August

September 13, 2008 By

josh_blog_photo.JPGRealtyTrac an online marketplace for foreclosure properties,  today released its August 2008 U.S. Foreclosure Market Report™, which shows foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on 303,879 U.S. properties during the month, a 12 percent increase from the previous month and a 27 percent increase from August 2007. The report also shows one in every 416 U.S. households received a foreclosure filing during the month.

“In August the total number of U.S. properties that received foreclosure filings as well as the national foreclosure rate were both the highest we’ve seen in any month since we began issuing our report in January 2005; however, the annual increase of 27 percent was actually substantially lower than in previous months this year, when it was hovering around 50 to 65 percent,” said James J. Saccacio, chief executive officer of RealtyTrac. “The lower annual percentage increase this month is due to a big spike in activity last August — particularly in default activity. Over the past few months we’ve seen annual increases in default activity and auction activity moderating, and that trend continued in August, with default activity up just 10 percent from a year ago and auction activity up 7 percent from a year ago.

“The increases in default and auction activity could be slowing down partly as the result of new legislation passed in several states that is designed to give homeowners in distress more time before foreclosure proceedings are initiated. In addition, some lenders are adopting loan servicing guidelines that encourage more pro-active approaches to helping homeowners avoid foreclosure. The question now is whether these measures will actually reduce foreclosures or simply cause a temporary lull in foreclosure activity.”

Nevada, California, Arizona post top state foreclosure rates

With one in every 91 households receiving a foreclosure filing in August, Nevada continued to document the nation’s highest state foreclosure rate for the 20th consecutive month. Foreclosure filings were reported on 11,706 Nevada properties, a 16 percent increase from the previous month and an 89 percent increase from August 2007.
California continued to document the nation’s second highest state foreclosure rate, with one in every 130 households receiving a foreclosure filing in August, and Arizona registered the third highest state foreclosure rate, with one in every 182 households receiving a foreclosure filing during the month.

Other states with foreclosure rates ranking among the top 10 were Florida, Michigan, Georgia, Ohio, Colorado, Illinois and Indiana. Michigan, Georgia, Ohio and Colorado all reported annual decreases in foreclosure activity.

California accounts for one-third of U.S. foreclosure activity

Foreclosure filings were reported on 101,724 California properties in August, one-third of the national total and the most of any state. The state’s foreclosure activity increased more than 40 percent from the previous month and more than 75 percent from August 2007.

RealtyTrac’s full report click here.

Filed Under: Blog, Uncategorized

530-222-1818
1171 Hilltop Dr
Redding CA 96003

Latest News

  • The Five Most Expensive Homes For Sale In Redding, CA
  • Homes For Sale In Redding, CA Under $300,000
  • Redding Homes For Sale – Inventory Starting to Climb
  • Redding Weekly Real Estate Report: April 8 2013
  • Palo Cedro Home Sales – February 2013

Custom Home Search

  • Golf Course Homes
  • Homes with a Pool
  • Luxury Homes For Sale
  • Waterfront Properties

Subscribe

We have new properties coming. Get the latest updates delivered to your inbox in an easy to read email presentation. Imagine finding your next home tomorrow. It happens. Please subscribe below.

We respect and value your privacy. We will only deliver property updates to your email address.

Redding Properties

161 Listings
2745 Freebridge St, Redding, CA 96001

$220,000 2 beds  1 baths  960 sqft 2745 Freebridge St
Redding, CA 96001

IDX
6774 Irving Rd, Redding, CA 96001

$330,000 3 beds  2 baths  1,486 sqft 6774 Irving Rd
Redding, CA 96001

IDX
3425 Americana Way, Redding, CA 96003

$444,900 3 beds  2 baths  1,622 sqft 3425 Americana Way
Redding, CA 96003

IDX
3611 Scorpius Way, Redding, CA 96002

$100,000 3 beds  1 baths  936 sqft 3611 Scorpius Way
Redding, CA 96002

IDX
21261 Via Serena Dr, Redding, CA 96003

$359,900 3 beds  2 baths  1,633 sqft 21261 Via Serena Dr
Redding, CA 96003

IDX
672 Mission De Oro Dr, Redding, CA 96003

$330,000 3 beds  3 baths  1,452 sqft 672 Mission De Oro Dr
Redding, CA 96003

IDX
This amazing, charming home comes with solar power.

$280,000 3 beds  2 baths  1,242 sqft 1775 Manchester Dr
Redding, CA 96002

IDX
6849 Creekside St, Redding, CA 96001

$359,900 3 beds  2 baths  1,593 sqft 6849 Creekside St
Redding, CA 96001

IDX
1150 Pineland Dr, Redding, CA 96002

$345,900 3 beds  2 baths  1,948 sqft 1150 Pineland Dr
Redding, CA 96002

IDX
848 Santa Cruz Dr, Redding, CA 96003

$1,175,000 3 beds  4 baths  3,000 sqft 848 Santa Cruz Dr
Redding, CA 96003

IDX
previous next

IDX MLS IDX Listing Disclosure © 2021

Information deemed reliable but not guaranteed.

Social Media

  • Facebook
  • Instagram

© Copyright 2021 Parsons Realty · Lic# 01312921 · All Rights Reserved · Powered by steelbridge.io