Foreclosure Activity Increases 19 Percent in May According to RealtyTrac(TM) U.S. Foreclosure Market Report

IRVINE, Calif., June 12 /PRNewswire/ -- RealtyTrac(R) (http://www.realtytrac.com/), the leading online marketplace for foreclosure properties, today released its May 2007 U.S. Foreclosure Market Report, which shows a total of 176,137 foreclosure filings -- default notices, auction sale notices and bank repossessions -- were reported during the month, up 19 percent from the previous month and up nearly 90 percent from May 2006. The report also shows a national foreclosure rate of one foreclosure filing for every 656 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 a barely perceptible dip in April, foreclosure activity roared back with a vengeance in May," said James J. Saccacio, chief executive officer of RealtyTrac. "Such strong activity in the midst of the typical spring buying season could foreshadow even higher foreclosure levels later in the year. Certainly not every community nationwide is seeing an increase in foreclosures, but foreclosed properties are becoming more commonplace and adding to the downward pressure on home prices in many areas."

Nevada, Colorado, California post top foreclosure rates

Nevada registered a May foreclosure rate of one foreclosure filing for every 166 households -- the nation's highest for the fifth month in a row and nearly four times the national average. The state reported a total of 5,235 foreclosure filings during the month, a 40 percent increase from the previous month and nearly five times the number reported in May 2006.

Colorado documented the nation's second highest state foreclosure rate, one foreclosure filing for every 290 households -- 2.3 times the national average. The state reported 6,321 foreclosure filings, a nearly 9 percent increase from the previous month and an increase of more than 50 percent from May 2006. The state's foreclosure total was eighth highest among the states.

California foreclosure activity increased 30 percent from the previous month and more than 350 percent from May 2006, boosting the state's foreclosure rate to third highest in the country. California documented one foreclosure filing for every 308 households, more than twice the national average.

Other states with foreclosure rates ranking among the nation's 10 highest in May were Florida, Ohio, Arizona, Georgia, Michigan, Indiana and Connecticut.

California, Florida, Ohio document largest foreclosure totals

For the fifth straight month California reported the most foreclosure filings of any state, with 39,659 in May. Florida reported 21,704 foreclosure filings, the second biggest state total. Foreclosure activity in Florida increased 52 percent from the previous month and 144 percent from May 2006, raising its foreclosure rate to one foreclosure filing for every 336 households -- fourth highest among all the states.

With 13,214 foreclosure filings reported in May, Ohio documented the nation's third highest state total for the third month in a row. The state's foreclosure activity increased 16 percent from the previous month and more than 150 percent from May 2006, resulting in a foreclosure rate of one foreclosure filing for every 362 households -- fifth highest among the states and 1.8 times the national average.

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

California cities continue to dominate top metro foreclosure rates

The cities with the nation's top three metropolitan foreclosure rates were all located in California, and three other California cities also documented foreclosure rates among the top 10.

A 49 percent increase in foreclosure activity ensured that Stockton, Calif., would continue to register the highest metropolitan foreclosure rate. The city reported one foreclosure filing for every foreclosure filing for every 88 households -- nearly 7.5 times the national average.

Merced, Calif., documented the second highest metro foreclosure rate, one foreclosure filing for every 100 households, followed by Modesto, Calif., with one foreclosure filing for every 118 households. Other California metros in the top 10 were Riverside-San Bernardino at No. 5, Vallejo-Fairfield at No. 6, and Sacramento at No. 7.

Other cities in the top 10 were Las Vegas at No. 4, Denver at No. 7, Detroit a 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 -- May 2007

  Rate
  Rank   State Name    NOD      NTS       NFS      LIS       REO     Total

   --    U.S.         55,615   56,481    9,760   25,733    28,548   176,137
   38    Alabama           0      260        0        0       406       666
   24    Alaska            1      112        0        0        21       134
   6     Arizona           0        4    4,994       21       899     5,918
   16    Arkansas         17    1,128        0        0       235     1,380
   3     California   29,132    7,037        0        0     3,490    39,659
   2     Colorado         69    5,813        0        0       439     6,321
   10    Connecticut   1,705      445        0        0       178     2,328
   42    Delaware          9       73        0        0        10        92
         District of
         Columbia          0       10        0        0         0        10
   4     Florida           0       19    3,164   17,000     1,521    21,704
   7     Georgia          16    5,727        0        0     2,551     8,294
   40    Hawaii            7      115        0        0         7       129
   21    Idaho           219      209        0        0        21       449
   13    Illinois          0       19      611    5,485       709     6,824
   9     Indiana       1,398    2,234      185        0       938     4,755
   33    Iowa             34      236        0        0       250       520
   36    Kansas          130      303        0        0         0       433
   34    Kentucky        173      271        0        0       285       729
   41    Louisiana        38      400        0        0        71       509
   43    Maine            34      100        0        0         8       142
   22    Maryland      1,119      480        0        0       167     1,766
   11    Mass.         2,739    1,579        0        0         0     4,318
   8     Michigan      1,255    5,538        0        0     2,668     9,461
   31    Minnesota        73      777        0        0       261     1,111
   47    Mississippi       3      124        0        0        92       219
   17    Missouri        694    1,229        0        0       828     2,751
   39    Montana           3      122        0        0        11       136
   37    Nebraska         15      213        0        0        37       265
   1     Nevada        2,870    1,626        0        0       739     5,235
   23    New
         Hampshire         1      270        0        0       124       395
   15    New Jersey    2,890      891        0        0       147     3,928
   35    New Mexico      276        8        0        0        41       325
   30    New York          0        7      806    3,227       183     4,223
   19    North
         Carolina      2,033      139        0        0       893     3,065
   48    North
         Dakota            1        2        0        0        27        30
   5     Ohio          4,133    4,096        0        0     4,985    13,214
   26    Oklahoma        318      375        0        0       235       928
   28    Oregon          584      211        0        0        30       825
   29    Pennsylvania    799    1,827        0        0       267     2,893
   27    Rhode
         Island            0      263        0        0         0       263
   44    South
         Carolina         45       95        0        0       227       367
   49    South
         Dakota            3       23        0        0         0        26
   12    Tennessee       989    1,862        0        0       972     3,823
   14    Texas           139    6,652        0        0     2,862     9,653
   18    Utah            301      460        0        0        34       795
   50    Vermont           1        4        0        0         0         5
   25    Virginia        686      684        0        0       400     1,770
   20    Washington       32    1,982        0        0       111     2,125
   46    West
         Virginia          2      151        0        0         1       154
   32    Wisconsin       627      271        0        0       132     1,030
   45    Wyoming           2        5        0        0        35        42



                          1 for      % change from  % change from
  Rate                    every        April 07       May 06
  Rank    State Name       #HH
   --     U.S.             656          19.25         89.91
   38     Alabama        2,948         -25.92         81.97*
   24     Alaska         1,531          54.02         55.81
   6      Arizona          370          43.33         97.99
   16     Arkansas         850           9.35         76.02
   3      California       308          30.01        353.97
   2      Colorado         290           8.50         50.57
   10     Connecticut      595         -44.66        237.88*
   42     Delaware       3,729         187.50        922.22*
          District
          of Columbia   27,485          66.67         11.11
   4      Florida          336          51.59        143.92
   7      Georgia          396          15.98         43.77
   40     Hawaii         3,570          95.45         -1.53
   21     Idaho          1,171           5.90        132.64
   13     Illinois         717         -17.76          7.31
   9      Indiana          531          18.55         36.09
   33     Iowa           2,370          19.54        197.14*
   36     Kansas         2,605           6.91          6.39
   34     Kentucky       2,401           5.19         40.73
   41     Louisiana      3,700          -8.12        222.15*
   43     Maine          4,591          25.66       2266.67*
   22     Maryland       1,213          69.00        579.23
   11     Mass.            607         101.02        636.86*
   8      Michigan         448          37.59         86.75
   31     Minnesota      1,861          33.21        212.96*
   47     Mississippi    5,794         157.65        291.07*
   17     Missouri         886          20.87         93.32
   39     Montana        3,030          22.52        109.23
   37     Nebraska       2,711          -2.93         76.67
   1      Nevada           166          40.09        374.61
   23     New
          Hampshire      1,385          -3.89       2938.46*
   15     New Jersey       843          25.82        101.95
   35     New Mexico     2,402          15.25        -39.37
   30     New York       1,818           3.03         -8.39
   19     North
          Carolina       1,149           7.28         83.31
   48     North
          Dakota         9,656         150.00         50.00
   5      Ohio             362          15.60        152.22
   26     Oklahoma       1,632         -15.48        -34.32
   28     Oregon         1,765          12.09        -50.27
   29     Pennsylvania   1,815          21.05         26.06
   27     Rhode
          Island         1,672          -2.59        160.40*
   44     South
          Carolina       4,776          25.68        -31.91
   49     South
          Dakota        12,431           0.00         13.04
   12     Tennessee        638          12.54         56.55
   14     Texas            834         -15.50        -33.46
   18     Utah             967          -1.61        -28.51
   50     Vermont       58,876         400.00         25.00
   25     Virginia       1,631          21.65        411.56
   20     Washington     1,153          21.01         40.64
   46     West
          Virginia       5,485         -12.00        116.90
   32     Wisconsin      2,254          22.62         62.97
   45     Wyoming        5,330         110.00         90.91

      * 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/.