Foreclosure starts down in U.S., but up in more than half the states
After three straight monthly increases, U.S. foreclosure starts decreased 4 percent from March to April. A total of 97,665 properties started the foreclosure process for the first time during the month, down 2 percent from April 2011. At the state level, 26 states had increased monthly foreclosure starts in April and 27 states saw an increase in April from the year before. States with the biggest annual increases in foreclosure starts included New Jersey (180 percent), Utah (179 percent), Indiana (49 percent), Pennsylvania (44 percent), Florida (43 percent), and Michigan (42 percent).
Bank repossessions decrease for third straight month- Nevada and Arizona see the largest drops
Bank repossessions (REOs) decreased on a monthly basis for the third straight month in April, down 7 percent from March. Lenders completed the foreclosure process on 51,415 U.S. properties during the month, down 26 percent from April 2011 ? the 18th consecutive month with a year-over-year decrease in REOs.
REO activity decreased on an annual basis in 37 states and the District of Columbia, while 28 states posted monthly drops in foreclosure activity. States with the biggest year-over-year decreases in REO activity included Nevada (71 percent), Arizona (70 percent), Washington (67 percent), California (52 percent), Virginia (47 percent), and Maryland (47 percent).
11 of 20 largest metros post annual increases in foreclosure activity-Tampa and Miami post the two largest increases
Eleven of the nation?s 20 largest metro areas based on population documented annual increases in foreclosure activity, led by the Florida cities of Tampa (59 percent) and Miami (38 percent). Other cities with increases included St. Louis (29 percent), Chicago (26 percent), Philadelphia (24 percent), and Atlanta (21 percent).
Among the 20 largest metros areas, cities posting the biggest annual drops in foreclosure activity included Seattle (54 percent), Phoenix (44 percent), San Francisco (34 percent), Washington, D.C. (30 percent), Riverside-San Bernardino, Calif., (30 percent), and Los Angeles (28 percent).
The metro areas with the highest foreclosure rates among the 20 largest were Riverside-San Bernardino (one in every 213 housing units with a foreclosure filing), Miami (one in every 273 housing units), Atlanta (one in every 298 housing units), Phoenix (one in every 313 housing units), and Tampa (one in every 315 housing units).
The 11 cities with annual increases in foreclosure activity were all in the Midwest, South or on the East Coast, while six of the nine cities with annual decreases were in the western states of California, Arizona and Washington.
Foreclosure Activity in 20 Largest U.S. Metros ? April 2012
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---------------------------------------------------------------------------- April 2012 Properties with 1/every X % Change % Change Foreclosure Housing from Mar from Apr MSA Name Filings Units 12 11 ---------------------------------------------------------------------------- Riverside-San Bernardino, CA 7,049 213 -10.81 -29.97 ---------------------------------------------------------------------------- Miami 9,031 273 -9.18 38.43 ---------------------------------------------------------------------------- Atlanta 7,271 298 -11.07 21.30 ---------------------------------------------------------------------------- Phoenix 5,755 313 -22.64 -44.44 ---------------------------------------------------------------------------- Tampa 4,295 315 18.19 59.02 ---------------------------------------------------------------------------- Chicago 11,840 321 -7.63 25.52 ---------------------------------------------------------------------------- Detroit 5,201 363 3.90 -32.22** ---------------------------------------------------------------------------- San Diego 2,960 394 -6.12 -18.68 ---------------------------------------------------------------------------- Los Angeles 10,906 412 -10.85 -28.26 ---------------------------------------------------------------------------- San Francisco 3,391 514 -18.88 -33.68 ---------------------------------------------------------------------------- Minneapolis 2,497 543 17.29 3.44 ---------------------------------------------------------------------------- St. Louis 1,793 696 -0.33 28.53 ---------------------------------------------------------------------------- Dallas 3,376 741 11.68 17.84 ---------------------------------------------------------------------------- Houston 2,741 842 -0.72 -2.46 ---------------------------------------------------------------------------- Boston 1,961 960 46.67 2.35 ---------------------------------------------------------------------------- Philadelphia 2,444 996 -11.96 24.31 ---------------------------------------------------------------------------- Seattle 1,172 1,249 -8.58 -54.24 ---------------------------------------------------------------------------- Washington, D.C. 1,530 1,447 -7.89 -30.23 ---------------------------------------------------------------------------- Baltimore 637 1,777 9.64 20.42 ---------------------------------------------------------------------------- New York 2,812 2,677 -7.62 7.25 ----------------------------------------------------------------------------
Related posts:
- St. Louis Real Estate ? Missouri Foreclosures Increase 2.34 Percent
- U.S. Foreclosures up slightly in January; down 17 percent from year before
- St Louis Foreclosures Increase in November from the month before; ?Down 18 percent from a year ago
- St. Louis Home Prices Declined 9.70 Percent in April 2011 Compared to Year Before
- St Louis Foreclosures Increase in February by 20 Percent From January
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