Foreclosure Activity Dips 1 Percent in April According to RealtyTrac(TM) U.S. Foreclosure Market Report

IRVINE, Calif., May 15 /PRNewswire/ -- RealtyTrac(R) (http://www.realtytrac.com/), the leading online marketplace for foreclosure properties, today released its April 2007 U.S. Foreclosure Market Report, which shows a total of 147,708 foreclosure filings -- default notices, auction sale notices and bank repossessions -- were reported during the month, down about 1 percent from the previous month but up 62 percent from April 2006. The report also shows a national foreclosure rate of one foreclosure filing for every 783 U.S. households during the month.

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 900,000 properties from nearly 2,500 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.

"After hitting a two-year high in March, U.S. foreclosure activity slipped slightly lower in April," said James J. Saccacio, chief executive officer of RealtyTrac. "Last year foreclosure activity subsided somewhat during the spring and summer months, thanks in part to increased interest from buyers. Whether the decrease in April is the beginning of a similar trend this year remains to be seen, but we expect foreclosure activity to at least stay above last year's levels for the remainder of 2007, fueled by a combustible mix of risky loans taken out in the last few years -- many in the subprime market -- and slowing home price appreciation."

Nevada, Colorado, Connecticut post top foreclosure rates

Nevada reported 3,737 foreclosure filings during April, a foreclosure rate of one foreclosure filing for every 232 households -- highest among the 50 states for the fourth month in a row and more than three times the national average. The state's foreclosure activity decreased 21 percent from the previous month but was up more than 200 percent from April 2006.

Colorado's foreclosure rate of one foreclosure filing for every 314 households was second highest among the states despite a 7 percent decrease in foreclosure activity from the previous month. The state reported 5,826 foreclosure filings during April, the eighth most of any state and a 57 percent increase from April 2006.

Connecticut's foreclosure rate leapfrogged to third highest among the states in April. The state reported 4,207 foreclosure filings during the month, a foreclosure rate of one foreclosure filing for every 329 households

-- more than twice the national average. Connecticut's dramatic increase is due in part to more rigorous data collection activities implemented by RealtyTrac in the state during April.

Other states with foreclosure rates ranking among the nations 10 highest in April were California, Ohio, Georgia, Florida, Arizona, Illinois and Michigan.

California, Florida, Ohio document largest foreclosure totals

With 30,505 foreclosure filings reported in April, California documented the largest foreclosure total of any state for the fourth month in a row. The state's foreclosure activity decreased about 3 percent from the previous month but was up more than 200 percent from April 2006, resulting in a foreclosure rate of one foreclosure filing for every 400 households -- fourth highest among the states and nearly twice the national average.

Florida reported 14,318 foreclosure filings in April, the second largest state total and a foreclosure rate of one foreclosure filing for every 510 households -- seventh highest among the states and 1.5 times the national average. The state's foreclosure activity increased less than 1 percent from the previous month and was up nearly 72 percent from April 2006.

Ohio's foreclosure activity surged in April, up 39 percent from the previous month and up 135 percent from April 2006, pushing the state's foreclosure total to third largest in the nation. The state reported 11,431 foreclosure filings during the month, a foreclosure rate of one foreclosure filing for every 418 households -- 1.9 times the national average.

Other states with foreclosure totals among the nation's 10 highest in April were Texas, Illinois, Georgia, Michigan, Colorado, Connecticut and Arizona.

Top metro foreclosure rates

For the second month in a row, six out of the 10 cities with the nation's highest metro foreclosure rates were located in California. Stockton, Calif., again registered the nation's highest metro foreclosure rate, one foreclosure filing for every 131 households -- nearly six times the national average. Other California cities with foreclosure rates in the top 10 included Vallejo-Fairfield at No. 2, Riverside-San Bernardino at No. 4, Modesto at No. 6, Sacramento at No. 7, and Merced at No. 8.

Two Colorado cities registered foreclosure rates among the top 10: Greeley ranked No. 3, with one foreclosure filing for every 165 households; and Denver ranked No. 10, with one foreclosure filing for every 236 households.

Other cities with foreclosure rates among the top 10 were Las Vegas -- No. 5 with one foreclosure filing for every 179 households -- and Akron, Ohio -- No. 9 with one foreclosure filing for every 216 households.

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings -- both nationwide and by state -- over the preceding month. Data is also available at the individual county level. RealtyTrac's report includes 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).

        U.S. Foreclosure Market Statistics by State -- April 2007

  Rate
  Rank    State Name    NODs      NTSs    NFSs    LISs    REOs    Total

  --         U.S.      47,171    49,795   7,388  21,085  22,269  147,708
  29     Alabama            2       365       0       0     532      899
  31     Alaska             0        80       0       0       7       87
  8      Arizona            0         8   3,489       5     627    4,129
  14     Arkansas          14     1,161       0       0      87    1,262
  4      California    24,305     4,200       0       0   2,000   30,505
  2      Colorado          37     4,787       0       0   1,002    5,826
  3      Connecticut    3,674       164       0       0     369    4,207
  45     Delaware           3         4       0       0      25       32
         District of
         Columbia           0         6       0       0       0        6
  7      Florida            0        31   2,424  11,207     656   14,318
  6      Georgia            1     5,251       0       0   1,899    7,151
  44     Hawaii             4        56       0       0       6       66
  20     Idaho            214       199       0       0      11      424
  9      Illinois           0       114     742   6,819     623    8,298
  11     Indiana        1,296     1,909       0       0     806    4,011
  38     Iowa              20       253       0       0     162      435
  37     Kansas           126       279       0       0       0      405
  33     Kentucky          97       412       0       0     184      693
  39     Louisiana         11       508       0       0      35      554
  42     Maine             14        95       0       0       4      113
  28     Maryland         487       503       0       0      55    1,045
  18     Mass.          1,486       662       0       0       0    2,148
  10     Michigan       1,423     3,847       0       0   1,606    6,876
  32     Minnesota         84       578       0       0     172      834
  48     Mississippi        1        83       0       0       1       85
  17     Missouri         822       866       0       0     588    2,276
  40     Montana            0       104       0       0       7      111
  34     Nebraska           4       223       0       0      46      273
  1      Nevada         2,263       956       0       0     518    3,737
         New
  21     Hampshire          0       345       0       0      66      411
  16     New Jersey     2,560       396       0       4     162    3,122
  36     New Mexico       204        44       0       0      34      282
  25     New York           0        18     733   3,050     298    4,099
         North
  19     Carolina       1,959       141       0       0     757    2,857
  49     North Dakota       1         2       0       0       9       12
  5      Ohio           2,941     4,945       0       0   3,545   11,431
  22     Oklahoma         407       472       0       0     219    1,098
  26     Oregon           514       191       0       0      31      736
  30     Pennsylvania     302     1,825       0       0     263    2,390
  24     Rhode Island       1       269       0       0       0      270
         South
  43     Carolina          15       101       0       0     176      292
  47     South Dakota       0        26       0       0       0       26
  13     Tennessee        762     1,777       0       0     858    3,397
  12     Texas             41     8,008       0       0   3,375   11,424
  15     Utah             211       523       0       0      74      808
  50     Vermont            0         1       0       0       0        1
  27     Virginia         379       920       0       0     156    1,455
  23     Washington        13     1,623       0       0     120    1,756
  41     West Virginia      0       175       0       0       0      175
  35     Wisconsin        473       281       0       0      86      840
  46     Wyoming            0         8       0       0      12       20



  Rate                      1 for         % change         % change
  Rank   State Name       every #HH      from Mar 07     from April 06

  --        U.S.               783           -0.97            62.02
  29    Alabama              2,184           11.54           244.44*
  31    Alaska               2,358          -11.22             3.57
  8     Arizona                530           -7.75           142.74
  14    Arkansas               930          149.90            65.18
  4     California             400           -2.96           245.12
  2     Colorado               314           -7.04            57.20
  3     Connecticut            329          177.32*          198.79*
  45    Delaware            10,721          -77.62            88.24*
        District of
        Columbia            45,808           20.00           -53.85
  7     Florida                510            0.10            71.47
  6     Georgia                433            5.64            38.85
  44    Hawaii               6,978            1.54            43.48
  20    Idaho                1,240           19.44           123.16
  9     Illinois               589            6.13            28.63
  11    Indiana                630           -7.41            -6.92
  38    Iowa                 2,833          -25.00           136.41*
  37    Kansas               2,785           -9.40            -7.11
  33    Kentucky             2,526           -1.00            15.69
  39    Louisiana            3,399           -4.32           583.95*
  42    Maine                5,769           73.85           769.23*
  28    Maryland             2,050            8.29           144.73
  18    Mass.                1,221          -38.58           273.57*
  10    Michigan               614          -20.14            30.50
  32    Minnesota            2,480            3.22            82.49
  48    Mississippi         14,927           -9.57            93.18*
  17    Missouri             1,071           -8.74           127.83*
  40    Montana              3,712           -5.13            48.00
  34    Nebraska             2,632          -23.53           137.39*
  1     Nevada                 232          -21.13           224.39
  21    New Hampshire        1,331          257.39         3,325.00*
  16    New Jersey           1,060          -34.69            61.34
  36    New Mexico           2,768          -13.50           -59.89
  25    New York             1,874           10.46            -2.78
  19    North Carolina       1,232          -11.85            54.68
  49    North Dakota        24,139          -50.00           140.00
  5     Ohio                   418           39.03           135.21
  22    Oklahoma             1,361           -3.51            -5.02
  26    Oregon               1,978           -1.47           -19.30
  30    Pennsylvania         2,197          -18.18            -1.57
  24    Rhode Island         1,629          -14.56           143.24*
  43    South Carolina       6,002          -14.12           -57.31
  47    South Dakota        12,431          -18.75           -18.75
  13    Tennessee              722            6.89            30.00
  12    Texas                  705          -10.44           -17.39
  15    Utah                   951           27.04           -43.02
  50    Vermont            294,382            0.00           -66.67
  27    Virginia             1,984           38.05           394.90
  23    Washington           1,396            1.15             7.20
  41    West Virginia        4,826           84.21           250.00
  35    Wisconsin            2,741            1.57            21.92
  46    Wyoming             11,193          100.00            11.11

*Actual increase may not be as high due to expanded data coverage in this state.

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix 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/.