Foreclosures decrease 9 percent in December according to RealtyTrac
 

IRVINE, Calif. – Jan. 17, 2007 – RealtyTrac released its December 2006 U.S. Foreclosure Market Report, which shows 109,652 properties nationwide entered some stage of foreclosure during the month, a decrease of nearly 9 percent from the previous month but an increase of 35 percent from December 2005. According to the report, it represents one new foreclosure filing for every 1,055 U.S. households.

Florida documented 8,321 properties entering some stage of foreclosure in December, the third most of any state but 11 percent below the number reported in the previous month. Florida’s foreclosure rate of one new foreclosure filing for every 878 households dropped out of the nation’s 10 highest state foreclosure rates but remained above the national average.

RealtyTrac is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and “The Wall Street Journal’s” Real Estate Journal.

“New foreclosure filings surpassed the 100,000 level for the fifth straight month, something we’ve not seen since we began issuing our foreclosure market report in January 2005,” says James J. Saccacio, chief executive officer of RealtyTrac. “While the number of new foreclosure filings dropped back from the high point of 2006 in November, the combination of slower home sales and rising interest rates on adjustable mortgages continues to drive foreclosures at significantly higher numbers than a year ago.”

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes entering some stage of foreclosure nationwide and by state over the preceding month. Data is also available at the individual county level. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults – Notice of Default (NOD) and Lis Pendens (LIS); Auctions – 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).
 

© 2007 FLORIDA ASSOCIATION OF REALTORS®

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