IRVINE, Calif., July 25, 2008 /PRNewswire via COMTEX/ ----RealtyTrac(R) (http://www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its Q2 2008 U.S. Foreclosure Market Report(TM), which shows foreclosure filings were reported on 739,714 U.S. properties during the second quarter, a nearly 14 percent increase from the previous quarter and a 121 percent increase from the second quarter of 2007. The report also shows that one in every 171 U.S. households received a foreclosure filing during the quarter.

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1.5 million properties from over 2,200 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal's Real Estate Journal.

"Although much of the fallout from foreclosures is being driven by rampant activity in a few states, such as Nevada, California, Florida, Ohio, Arizona and Michigan, most areas of the country are seeing at least some increase in foreclosure activity," said James J. Saccacio, chief executive officer of RealtyTrac. "Forty-eight of 50 states and 95 out of the nation's 100 largest metro areas experienced year-over-year increases in foreclosure activity in the second quarter.

"Bank repossessions, or REOs, accounted for 30 percent of total foreclosure activity in the second quarter, up from 24 percent of the total in the first quarter," Saccacio continued. "This shift in the distribution of activity indicates that there is a progression toward purging the problem loans out of the system -- at which point the housing market can regain some sense of normalcy. Of course if another surge in defaults occurs, which could well happen later this year, it would refill the foreclosure pipeline and prolong the recovery."

Nevada, California, Arizona post top state foreclosure rates

One in every 43 Nevada households received a foreclosure filing during the second quarter, the highest foreclosure rate among the states and nearly four times the national average. Foreclosure filings were reported on 24,657 Nevada properties during the quarter, up 26 percent from the previous quarter and up 147 percent from the first quarter of 2007.

Foreclosure filings were reported on 202,599 California properties during the second quarter, the highest total among the states and a rate of one in every 65 households -- the nation's second highest state foreclosure rate. Foreclosure activity in California increased 19 percent from the previous quarter and was nearly three times the level reported in the second quarter of 2007.

With one in every 70 households receiving a foreclosure filing, Arizona posted the nation's third highest state foreclosure rate in the second quarter. Foreclosure filings were reported on 37,230 Arizona properties during the quarter, up nearly 36 percent from the previous quarter and close to four times the number reported in the second quarter of 2007.

Florida documented the nation's fourth highest state foreclosure rate in the second quarter, with one in every 78 households receiving a foreclosure filing during the quarter - more than twice the national average. Foreclosure filings were reported on 109,433 Florida properties during the quarter, the second highest total of any state and an increase of nearly 25 percent from the previous quarter.

Despite a nearly 15 percent quarterly decrease in foreclosure activity in the second quarter, Colorado posted the nation's fifth highest state foreclosure rate - one in every 129 Colorado households received a foreclosure filing during the quarter. Second quarter foreclosure activity in Colorado was still up more than 50 percent from the second quarter of 2007.

Foreclosure filings were reported on 37,689 Ohio properties in the second quarter, the third highest total among the states and a rate of one in every 134 households -- the nation's sixth highest state foreclosure rate. Second quarter foreclosure activity in Ohio was up nearly 21 percent from the previous quarter and nearly 27 percent from the second quarter of 2007.

With foreclosure filings reported on 32,868 properties during the second quarter, Michigan notched the fifth highest total among the states. One in every 137 Michigan households received a foreclosure filing during the quarter, the nation's seventh highest state foreclosure rate.

Other states with foreclosure rates among the top 10 were Georgia, Massachusetts and Illinois.

Top 20 metro areas include Las Vegas, Phoenix, Miami, San Diego and Detroit

The Q2 2008 U.S. Foreclosure Market Report also ranks the nation's 100 largest metropolitan areas by foreclosure rate. California and Florida metro areas accounted for 16 of the top 20 metro foreclosure rates, with the California cities of Stockton and Riverside-San Bernardino taking the No. 1 and No. 2 spots.

One in every 25 Stockton households received a foreclosure filing during the quarter -- nearly seven times the national average -- and one in every 32 Riverside-San Bernardino households received a foreclosure filing during the quarter -- more than five times the national average. Other California metro areas in the top 20 were Bakersfield at No. 4, Sacramento at No. 5, Oakland at No. 8, Fresno at No. 9, San Diego at No. 11, Orange at No. 15, Ventura at No. 16 and Los Angeles at No. 19.

Las Vegas documented the third highest metro foreclosure rate, with one in every 35 households receiving a foreclosure filing during the quarter. Foreclosure filings were reported on 21,742 Las Vegas metro properties during the quarter, up more than 25 percent from the previous quarter and up nearly 144 percent from the second quarter of 2007.

The highest ranked Florida metro area was Fort Lauderdale, which ranked No. 6 with one in every 51 households receiving a foreclosure filing during the quarter. Other Florida metro areas in the top 20 were Miami at No. 10, Orlando at No. 13, Sarasota-Bradenton-Venice at No. 14, Tampa-St. Petersburg- Clearwater at No. 17 and Palm Beach at No. 18.

One in every 51 households in the Phoenix metro area received a foreclosure filing during the quarter, ranking No. 7; one in every 66 households in the Detroit metro area received a foreclosure filing during the quarter, ranking No. 12; and one in every 91 households in the Atlanta metro area received a foreclosure filing during the quarter, ranking No. 20.

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the quarter -- broken out by type of filing at the state and national level. Data is also available at the individual county level. RealtyTrac's report incorporates documents filed in all three phases of foreclosure: Default -- Notice of Default (NOD) and Lis Pendens (LIS); Auction -- Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). If more than one foreclosure document is filed against a property during the quarter only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous quarter. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 U.S. Foreclosure Market Data by State - Q2 2008 Rate State Name NOD LIS NTS NFS REO Rank -- U.S.
   161,162 157,094 139,955 59,112 222,391 43 Alabama 3 0 680 0 1,146 32 Alaska 1 0 445 0 60 3 Arizona 18 0 25,431 0 11,781 25
   Arkansas 168 0 2,488 0 818 2 California 119,836 0 19,968 0 62,795 5 Colorado 22 0 10,331 0 5,881 19 Connecticut 0 3,872 2
   845 226 36 Delaware 0 0 0 308 297 District of Columbia 226 0 728 0 221 4 Florida 0 74,968 28 18,379 16,058 8 Georgia 107 0
   17,522 0 10,124 41 Hawaii 61 0 385 0 50 20 Idaho 1,142 0 693 0 251 10 Illinois 0 18,302 30 1,912 6,646 11 Indiana 0 4,048
   29 5,021 4,792 39 Iowa 1 0 751 0 630 34 Kansas 0 273 5 735 948 42 Kentucky 0 415 8 814 597 40 Louisiana 0 3 2 1,432 455 38
   Maine 369 0 389 0 67 16 Maryland 0 6,881 17 1,357 1,197 9 Mass. 0 6,734 22 4,345 5,072 7 Michigan 5,114 0 12,526 0 15,228
   27 Minnesota 80 0 2,777 0 2,816 46 Mississippi 0 0 366 0 313 18 Missouri 3,289 0 1,932 0 4,455 44 Montana 7 0 299 0 30 33
   Nebraska 0 68 6 973 227 1 Nevada 13,831 0 2,110 0 8,716 22 New Hampshire 0 0 952 0 786 12 New Jersey 0 11,725 8 3,694 1,862
   37 New Mexico 0 877 0 73 200 30 New York 0 11,101 7 2,292 2,625 26 North Carolina 6,521 0 444 0 3,546 49 North Dakota 0 0
   0 1 50 6 Ohio 0 11,716 78 10,131 15,764 29 Oklahoma 1,182 0 1,434 0 1,270 23 Oregon 2,504 0 1,645 0 460 31 Pennsylvania 0
   3,199 7 4,653 2,548 17 Rhode Island 0 0 1,150 0 510 35 South Carolina 0 305 11 397 2,466 47 South Dakota 0 0 1 80 12 13 Tennessee
   2,935 0 4,189 0 4,884 21 Texas 308 0 14,781 0 14,020 14 Utah 516 0 2,744 0 721 50 Vermont 0 0 7 0 30 15 Virginia 2,882 0 6,483
   0 4,811 24 Washington 39 0 5,805 0 1,876 48 West Virginia 0 0 136 0 59 28 Wisconsin 0 2,607 17 1,670 1,921 45 Wyoming 0 0
   86 0 73 Rate State Name Total 1/every X %Change %Change Rank HH (rate) from Q1 08 from Q2 07 -- U.S. 739,714 171 13.82 121.36
   43 Alabama 1,829 1,154 7.59 -0.76 32 Alaska 506 547 5.20 75.69 3 Arizona 37,230 70 35.86 272.26 25 Arkansas 3,474 367 -7.41
   226.50 2 California 202,599 65 19.29 197.78 5 Colorado 16,234 129 -14.54 50.69 19 Connecticut 4,945 290 -35.21 7.95 36 Delaware
   605 633 12.66 178.80* District of Columbia 1,175 241 7.90 3,163.89* 4 Florida 109,433 78 24.51 181.83 8 Georgia 27,753 140
   -2.63 85.12 41 Hawaii 496 1,008 33.69 82.35 20 Idaho 2,086 295 15.25 148.63 10 Illinois 26,890 193 15.83 57.99 11 Indiana
   13,890 198 -0.33 59.40 39 Iowa 1,382 955 -11.75 33.14 34 Kansas 1,961 616 40.47 131.25 42 Kentucky 1,834 1,030 15.93 0.60
   40 Louisiana 1,892 967 -2.37 73.10 38 Maine 825 838 40.55 2,257.14 16 Maryland 9,452 243 -17.04 130.20 9 Mass. 16,173 168
   -1.18 285.71* 7 Michigan 32,868 137 11.25 73.18 27 Minnesota 5,673 403 34.08* 119.71* 46 Mississippi 679 1,828 48.25* 81.55*
   18 Missouri 9,676 271 9.42 85.36 44 Montana 336 1,286 -20.19 13.90 33 Nebraska 1,274 608 71.70 86.80 1 Nevada 24,657 43 25.83
   146.77 22 New Hampshire 1,738 339 -2.80 1,748.94* 12 New Jersey 17,289 201 31.94 140.33 37 New Mexico 1,150 739 -2.71 59.94
   30 New York 16,025 493 11.46 61.66 26 North Carolina 10,511 383 2.22 57.97 49 North Dakota 51 6,035 2.00 -25.00 6 Ohio 37,689
   134 20.60 26.93 29 Oklahoma 3,886 414 19.98 72.10 23 Oregon 4,609 344 9.69 118.44 31 Pennsylvania 10,407 524 76.36* 62.76*
   17 Rhode Island 1,660 271 5.00 444.26* 35 South Carolina 3,179 621 63.95* 211.97* 47 South Dakota 93 3,794 45.31 1,450.00*
   13 Tennessee 12,008 223 -3.08 105.19 21 Texas 29,109 317 -13.61 40.47 14 Utah 3,981 226 21.04 113.23 50 Vermont 37 8,366 1,133.33*
   236.36* 15 Virginia 14,176 228 7.79 278.43 24 Washington 7,720 350 16.30 87.11 48 West Virginia 195 4,501 36.36 22.64 28 Wisconsin
   6,215 408 9.57 157.88 45 Wyoming 159 1,504 -3.05 87.06* * Actual increase may not be as high due to data collection changes
   or improvements Top 100 U.S. Metro Foreclosure Market Data - Q2 2008 1/every %Change %Change Rate X HH from from Rank State
   Metro Name Total (rate) Q1 08 Q2 07 -- U.S. Total 739,714 171 13.82 121.36 1 CA STOCKTON 9,066 25 19.92 170.63 2 CA RIVERSIDE/
   SAN BERNARDINO 43,600 32 17.08 193.42 3 NV LAS VEGAS/PARADISE 21,742 35 25.53 143.66 4 CA BAKERSFIELD 6,431 41 25.78 294.78
   5 CA SACRAMENTO 15,505 49 11.01 125.46 6 FL FORT LAUDERDALE 15,558 51 42.39 215.26 7 AZ PHOENIX/MESA 31,613 51 36.65 306.81
   8 CA OAKLAND 15,904 60 25.56 237.31 9 CA FRESNO 4,806 62 26.08 178.13 10 FL MIAMI 15,260 62 30.39 112.86 11 CA SAN DIEGO 17,343
   65 13.24 206.52 12 MI DETROIT/LIVONIA/ DEARBORN 12,826 66 3.42 52.91 13 FL ORLANDO 11,809 72 12.23 247.94 14 FL SARASOTA/BRADENTON/
   VENICE 4,690 82 9.10 163.34 15 CA ORANGE 12,439 82 29.69 276.71 16 CA VENTURA 3,177 85 34.62 228.88 17 FL TAMPA/ST PETERSBURG/
   CLEARWATER 14,960 87 26.66 158.51 18 FL PALM BEACH 7,141 88 50.69 188.29 19 CA LOS ANGELES/ LONG BEACH 36,955 91 14.85 168.24
   20 GA ATLANTA/SANDY SPRINGS/MARIETTA 22,484 91 -0.31 77.05 21 OH TOLEDO 3,253 92 73.31 121.44 22 OH AKRON 3,283 93 58.68 24.40
   23 CO DENVER/AURORA 10,829 95 -18.99 44.71 24 CA SAN JOSE/SUNNYVALE/ SANTA CLARA 6,437 97 35.66 343.32 25 TN-MS- AR MEMPHIS
   5,141 105 3.75 95.33 26 OH CLEVELAND/LORAIN/ ELYRIA/MENTOR 8,735 108 -2.61 -3.69 27 DC-MD- WASHINGTON/ARLINGTON/ VA-WV ALEXANDRIA
   15,569 109 3.05 250.97* 28 MI WARREN/FARMINGTON HILLS/TROY 9,312 113 17.22 100.26 29 OH DAYTON 3,304 115 21.47 18.68 30 IN
   INDIANAPOLIS 6,058 122 -4.30 30.87 31 OH COLUMBUS 6,285 122 17.74 39.11 32 MA ESSEX 2,418 122 1.77 365.90* 33 FL JACKSONVILLE
   4,540 125 -0.37 73.35 34 IN GARY 1,980 144 10.61 61.11 35 IL CHICAGO 21,488 144 22.08 58.30 36 MA WORCHESTER 2,156 146 -14.24
   188.62* 37 AZ TUCSON 2,820 148 51.29 138.18 38 NJ NEWARK 5,458 154 26.25 170.47 39 IL LAKE/KENOSHA 1,573 159 5.93 61.66 40
   MA BOSTON/QUINCY 4,719 159 -1.34 333.33* 41 OH-KY- IN CINCINNATI 5,601 161 15.60 16.49 42 NJ CAMDEN 1,588 177 40.04 137.37
   43 WA TACOMA 1,732 179 14.40 112.78 44 WI MILWAUKEE/WAUKESHA/ WEST ALLIS 3,545 184 16.23 208.80 45 MO-KS KANSAS CITY 4,643
   187 38.10 94.84 46 MO-IL ST LOUIS 6,357 192 -4.05 76.73 47 MA SPRINGFIELD 1,449 195 -24.57 198.15* 48 MA CAMBRIDGE/NEWTON/
   FRAMINGHAM 2,994 197 9.59 337.08* 49 TX DALLAS 7,638 202 -8.38 10.11 50 TX FORT WORTH/ARLINGTON 3,785 203 -17.70 27.44 51
   TX HOUSTON/BAYTOWN/ SUGARLAND 9,827 214 -21.18 83.96 52 UT SALT LAKE CITY 1,768 217 17.16 89.29 53 OK TULSA 1,772 222 41.65
   69.57 54 MD BETHESDA/FREDERICK/ GAITHERSBURG 1,939 229 -9.69 167.45* 55 NC-SC CHARLOTTE/GASTONIA 2,923 232 -5.65 25.45 56
   TN NASHVILLE/DAVIDSON 2,626 238 0.69 126.18 57 CT NEWHAVEN/MILFORD POUGHKEEPSIE/ 1,452 240 -36.81 -3.33 58 NY NEWBURGH/ MIDDLETOWN
   1,015 241 210.40* 423.20* 59 MN-WI MINNEAPOLIS/ST PAUL/BLOOMINGTON 5,120 256 28.64 106.04 60 CA SAN FRANCISCO 2,778 263 28.43
   203.94 61 NC RALEIGH/CARY 1,515 270 8.45 64.50 62 AR LITTLE ROCK/NORTH LITTLE ROCK 1,074 270 -16.42 167.16 63 RI PROVIDENCE/
   NEW BEDFORD 1,660 271 5.00 444.26* 64 CT BRIDGEPORT/ STAMFORD/NORWALK 1,283 272 -31.68 43.19 65 NJ EDISON 3,367 276 25.26
   54.10 66 OK OKLAHOMA CITY 1,826 282 5.86 75.58 67 OR-WA PORTLAND/VANCOUVER/ BEAVERTON 2,961 295 10.57 132.05 68 TX SAN ANTONIO
   2,452 301 -5.66 39.08 69 NY SUFFOLK/NASSAU 3,298 304 -1.61 82.41 70 NC GREENSBORO/ HIGHPOINT 1,007 304 -4.73 75.44 71 NE-IA
   OMAHA/COUNCIL BLUFFS 1,075 322 113.29 97.97 72 PA PHILADELPHIA 4,977 324 62.43 46.60 73 MD BALTIMORE/TOWSON 3,389 325 -19.65
   105.64* 74 CT HARTFORD 1,470 333 -35.67 -0.14 75 TN KNOXVILLE 856 354 -17.77 108.78 76 NY ALBANY/SCHENECTADY/ TROY 1,062 356
   74.67 276.60 77 SC COLUMBIA 813 373 47.82* 354.19* 78 TX AUSTIN/ROUND ROCK 1,611 381 -3.19 12.42 79 PA PITTSBURGH 2,880 383
   73.29 87.74 80 NY ROCHESTER 1,124 392 13.77 10.63 81 LA NEW ORLEANS 1,127 398 -1.31 83.85 82 NM ALBUQUERQUE 857 405 -6.13
   64.81 83 WA SEATTLE/BELLEVUE/ EVERETT 2,616 411 25.89 69.10 84 NY-NJ NEW YORK/WAYNE/ WHITE PLAINS 10,189 432 16.61 66.19 85
   VA RICHMOND 1,104 456 -6.60 804.92* 86 KS WICHITA 548 466 56.13 122.76 87 DE-MD- NJ WILMINGTON 576 483 -9.29 244.91 88 SC
   GREENVILLE 536 492 40.68 587.18* 89 KY-IN LOUISVILLE 1,032 523 3.72 -21.22 90 VA-NC NORFOLK/VIRGINIA BEACH/NEWPORT NEWS 1,081
   551 -1.28 170.25* 91 TX EL PASO 408 611 65.85 2.77 92 TX MCALLEN/EDINBURG/ PHARR 392 612 -25.62 276.92 93 SC CHARLESTON 437
   627 21.39 67.43* 94 PA SCRANTON/WILKES/ BARRE/HAZLETON 360 715 115.57 56.52 95 NY BUFFALO/CHEEKTOWAGA/ TONAWANDA** 680 765
   0.44 77.55 96 LA BATON ROUGE 400 780 13.96 132.56 97 AL BIRMINGHAM/HOOVER 574 798 48.70 -43.39 98 NY SYRACUSE 331 860 5.75
   154.62 99 PA ALLENTOWN/BETHLEHEM/ EASTON 317 972 1168.00 10.84 100 HI HONOLULU 250 1,331 61.29 63.40 * Actual increase may
   not be as high due to data collection changes or improvements ** Actual Total and Rate may be higher because of limited data
   coverage 

About RealtyTrac Inc.

Ranked as the third largest real estate site by Media Metrix and No. 53 on Inc. magazine's 2006 Inc. 500 list of the nation's fastest-growing private companies, 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 homes, 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 MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal's Real Estate Journal. For current news and information regarding foreclosure-related issues and trends, visit our blog at http://www.ForeclosurePulse.com.

SOURCE RealtyTrac

http://www.realtytrac.com
   

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