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Foreclosure News | Foreclosure Resources

April Foreclosures Higher

RealtyTrac reports 243,353 filings last month

May 14, 2008

By MortgageDaily.com staff

A widely tracked foreclosure index contradicts findings from a competing index that indicated foreclosures fell in April.

U.S. foreclosure filings, including default notices, auction sale notices and bank repossessions, were reported on 243,353 properties during April by RealtyTrac. Activity was up 4 percent from March and 65 percent higher than a year earlier.

"Properties with foreclosure activity in April was the highest monthly total we've seen since we began issuing the report in January 2005," RealtyTrac Chief Executive Officer James J. Saccacio said in the statement.

The foreclosure listing service said its figures were based on data from more than 1.5 million properties from over 2,200 counties.

Real estate owned filings were 54,574 last month, climbing from 51,393 in March, the data indicated. Those figures contradict a report yesterday from ForeclosureS.com, which said April filings were 74,570, falling 5 percent from March.

Total California filings were 64,683, more than any other state, according to the announcement. Florida followed with 35,264 foreclosures, then Ohio, at 11,680, the announcement said. No. 4 was Arizona, at 11,620, and No. 5 was Texas, with 11,406.

Vermont had no foreclosure filings, the report indicated.

RealtyTrac said there was one foreclosure filing for every 519 U.S. households in April, worse than one filing for every 538 U.S. households the previous month.

Nevada had the worst foreclosure rate last month, with one filing for every 146 households, RealtyTrac reported. At one filing for every 204 households, California was next. Arizona was No. 3 at one filing for each 224 households, Florida was No. 4 with 242 filings per 1,000 households and No. 5 was Colorado, which had one filing for each 349 households.

Merced, Calif., had one foreclosure for every 66 households, higher than any other city, according to the report. In all, six California cities were among the cities with the worst foreclosure rates, while three Florida cities also made the top 10.

Among metropolitan areas, Las Vegas -- at one foreclosure filing for every 116 households -- had the highest rate.

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