Foreclosure Activity Decreases 10 Percent in November According to RealtyTrac(R) U.S. Foreclosure Market Report

IRVINE, Calif., Dec. 19 /PRNewswire/ -- RealtyTrac(R) (http://www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its November 2007 U.S. Foreclosure Market Report, which shows a total of 201,950 foreclosure filings -- default notices, auction sale notices and bank repossessions -- were reported during the month, down 10 percent from the previous month but still up nearly 68 percent from November 2006. The national foreclosure rate for the month was one foreclosure filing for every 617 households.

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million 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.

"The 10 percent drop in November is the first double-digit monthly decrease we've seen since April 2006," said James J. Saccacio, chief executive officer of RealtyTrac. "This could indicate that foreclosure activity has topped out for the year, but the true test of whether this ceiling will hold will come at the beginning of next year -- when we anticipate that a seasonal surge in foreclosure filings and another possible wave of resetting mortgages could place further pressure on the housing market. But if the trend of flat or decreasing foreclosure activity we've seen over the past three months continues in the first quarter, it would certainly bode well for 2008."

Nevada, Florida, Ohio post top state foreclosure rates

With one foreclosure filing for every 152 households -- more than four times the national average -- Nevada continued to register the nation's top state foreclosure rate for the 11th straight month. A total of 6,694 foreclosure filings were reported in the state for the month, up 1 percent from the previous month and up 167 percent from November 2006.

Florida's November foreclosure rate of one foreclosure filing for every 282 households ranked second highest among the states -- up from the state's ranking of third highest the previous month despite a 3 percent month-to-month decrease in foreclosure activity. A total of 29,238 foreclosure filings were reported in the state for the month, up 212 percent from November 2006.

Foreclosure activity in Ohio was down nearly 6 percent from the previous month, but the state's foreclosure rate of one foreclosure filing for every 307 households still ranked third highest among the states -- up from fourth highest the previous month. A total of 16,308 foreclosure filings were reported in the state for the month, an increase of nearly 99 percent from November 2006.

Other states with foreclosure rates ranking among the nation's 10 highest were Colorado, California, Michigan, Georgia, Arizona, Indiana and Illinois.

California, Florida, Ohio report highest foreclosure totals

A total of 39,992 foreclosure filings were reported in California in November, the most of any state despite a 21 percent decrease from the previous month. The state's November foreclosure activity was still up nearly 108 percent from November 2006, and the state's foreclosure rate of one foreclosure filing for every 325 households was 1.9 times the national average and fifth highest among the states.

Florida documented the nation's second highest state foreclosure filing total in November, and Ohio documented the third highest total. Other states with foreclosure filing totals among the nation's 10 highest were Texas, Michigan, Georgia, Illinois, Nevada, Colorado and New York.

Top metro foreclosure rates

California cities accounted for five of the nation's top 10 metro foreclosure rates in November, one fewer than in the previous month. Stockton, Calif., took the top spot, with one foreclosure filing for every 99 households -- more than six times the national average. Modesto, Calif., took the No. 2 spot, with one foreclosure filing for every 104 households, and Merced, Calif., took the No. 3 spot, with one foreclosure filing for every 106 households. Other California cities in the top 10 were Vallejo-Fairfield at No. 6 and Riverside-San Bernardino at No. 9.

Las Vegas registered a foreclosure rate of one foreclosure filing for every 122 households, fourth highest metro rate in November, and Detroit's foreclosure rate of one foreclosure filing for every 138 households ranked No. 5. Other cities in the top 10 were Greeley, Colo., at No. 7; Cape Coral-Fort Myers, Fla., at No. 8; and Miami at No. 10.

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 - Nov 2007

    Rate  State                                                        Total
    Rank  Name             NOD     NTS     NFS      LIS       REO     Filings
    --    U.S.           35,096  51,696  20,269   48,451    46,438    201,950
    38    Alabama             3     464       0        0       193        660
    32    Alaska              1      98       0        0        57        156
    8     Arizona            35   4,295       0        0     1,437      5,767
    22    Arkansas           37     977       0        0       126      1,140
    5     California     22,634   9,099       0        0     8,259     39,992
    4     Colorado           70   3,323       0        0     3,032      6,425
    23    Connecticut         0       5     160    1,102        15      1,282
    36    Delaware            0       2     119        4         7        132
          District of
          Columbia            0       3       0        0        79         82
    2     Florida             0      38   4,901   21,953     2,346     29,238
    7     Georgia            28   6,846       0        0     2,094      8,968
    44    Hawaii             13     100       0        0         0        113
    18    Idaho             300     334       0        0        33        667
    10    Illinois            0      29     872    6,018     1,319      8,238
    9     Indiana             0      15   1,469    2,000     2,150      5,634
    31    Iowa               45     301       0        0       402        748
    40    Kansas              0       3     231      107        11        352
    35    Kentucky            0       7     292      142       317        758
    37    Louisiana           0       1     519       29       102        651
    45    Maine              44      62       0        0        12        118
    12    Maryland            0      21   1,687    1,118       303      3,129
    15    Mass.               0       8     895    2,170       284      3,357
    6     Michigan        1,794   5,311       0        0     4,359     11,464
    33    Minnesota          16     924       0        0       270      1,210
    46    Mississippi         4     121       0        0        67        192
    13    Missouri          560   1,644       0        0     1,135      3,339
    41    Montana             1     105       0        0        12        118
    30    Nebraska            0       0     391       14        79        484
    1     Nevada          3,853   1,470       0        0     1,371      6,694
    28    New Hampshire       3     306       0        0       111        420
    16    New Jersey          0       4     490    3,324       414      4,232
    39    New Mexico          0       0      10      207        42        259
    27    New York            0      18     684    4,269       823      5,794
    19    North Carolina  2,763     100       0        0     1,108      3,971
    47    North Dakota        0       0       2        2        28         32
    3     Ohio                0      67   5,192    4,271     6,778     16,308
    26    Oklahoma          362     421       0        0       405      1,188
    25    Oregon            809     338       0        0        75      1,222
    34    Pennsylvania        0      12   1,853       84       628      2,577
    29    Rhode Island        0     275       0        0        21        296
    42    South Carolina      0       6      81       45       394        526
    48    South Dakota        0       1      20        1         0         22
    11    Tennessee       1,229   1,728       0        0       905      3,862
    14    Texas              78   8,087       0        0     3,434     11,599
    17    Utah              147     725       0        0       109        981
    50    Vermont             3       3       0        0         0          6
    24    Virginia          189   1,711       0        0       678      2,578
    21    Washington         44   2,214       0        0       215      2,473
    49    West Virginia       0      45       0        0         4         49
    20    Wisconsin           0      24     401    1,591       369      2,385
    43    Wyoming            31       5       0        0        26         62



    Rank  State               HH per        % Change        % Change
    Rate  Name                Filing       from Oct 07     from Nov 06
    --    U.S.                  617          -10.02           67.82
    38    Alabama             3,155          -20.39           -4.35
    32    Alaska              1,758          -38.10           45.79
    8     Arizona               441           -9.02           89.58
    22    Arkansas            1,096          -23.80           40.05
    5     California            325          -20.65          107.77
    4     Colorado              320           19.45           27.20
    23    Connecticut         1,110          -19.57            8.00
    36    Delaware            2,840            0.76          312.50*
          District of
          Columbia            3,388            0.00        1,950.00*
    2     Florida               282           -3.15          212.31
    7     Georgia               421          -21.00           27.10
    44    Hawaii              4,346          -13.74           52.70
    18    Idaho                 893           11.17          187.50*
    10    Illinois              624          -14.84           35.74
    9     Indiana               484            6.62           50.84
    31    Iowa                1,747           11.14           50.50
    40    Kansas              3,398          -29.88          -15.18
    35    Kentucky            2,461           -6.65           41.95
    37    Louisiana           2,981           -9.58           37.92
    45    Maine               5,795          -19.73        2,850.00*
    12    Maryland              727          -11.28          637.97
    15    Mass.                 801           15.60           59.86
    6     Michigan              391          -14.54           59.93
    33    Minnesota           1,861          -26.67          109.34
    46    Mississippi         6,435          -12.33           69.91
    13    Missouri              777           -6.86          107.52
    41    Montana             3,630          -19.18           32.58
    30    Nebraska            1,585           43.20           -8.68
    1     Nevada                152            1.15          167.12
    28    New Hampshire       1,389          -26.83        3,130.77*
    16    New Jersey            814          -12.63          -17.15
    39    New Mexico          3,238          -46.04            4.02
    27    New York            1,355          -11.12           18.71
    19    North Carolina        992           -1.34          142.87
    47    North Dakota        9,514           28.00          146.15
    3     Ohio                  307           -5.60           98.88
    26    Oklahoma            1,337           -8.69           29.13
    25    Oregon              1,275           11.60           55.27
    34    Pennsylvania        2,104          -18.71          -19.49
    29    Rhode Island        1,513          -18.23           90.97
    42    South Carolina      3,665           -6.07            0.77
    48    South Dakota       15,815           15.79          -29.03
    11    Tennessee             683          -15.10            7.46
    14    Texas                 778           -5.61          -15.11
    17    Utah                  890           -6.57            7.21
    50    Vermont            51,224          -33.33          500.00
    24    Virginia            1,231            2.38          765.10
    21    Washington          1,072           12.77           71.74
    49    West Virginia      17,800            2.08            2.08
    20    Wisconsin           1,048           -4.83          170.72
    43    Wyoming             3,802           24.00           72.22

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

U.S. Foreclosure Rates Heat Map - Nov 2007 (PHOTO: http://www.newscom.com/cgi-bin/prnh/20071219/LAW017)

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.