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U.S. Home Foreclosures Artificially Slowing in First Half of 2011, Paperwork and Judicial Issues Cause Further Delays

U.S. Home Foreclosures Artificially Slowing in First Half of 2011, Paperwork and Judicial Issues Cause Further Delays

Residential News » Residential Real Estate Edition | By Michael Gerrity | July 28, 2011 8:00 AM ET



Based on RealtyTrac's recently released Midyear 2011 Metropolitan Foreclosure Market Report, foreclosure activity decreased on a year-over-year basis in 178 out of the nation's 211 metropolitan areas with a population of 200,000 or more. The report also shows that all top 10 metro areas with the highest foreclosure rates in the first half of the year posted decreasing foreclosure activity compared to the first half of 2010.

California, Nevada and Arizona cities accounted for all top 10 metro foreclosure rates and 15 of the top 20 metro foreclosure rates in the first half of the year. Only one Florida metro area posted a foreclosure rate among the top 20 -- Cape Coral-Fort Myers at No. 12 -- in sharp contrast to the first half of 2010, when Florida cities accounted for nine of the top 20 metro foreclosure rates nationwide.

Also posting foreclosure rates ranking among the top 20 were Boise City-Nampa, Idaho, Atlanta-Sandy Springs-Marietta, Ga., Greeley, Colo., and Salt Lake City, Utah.

"Foreclosure activity continued to slow in the first half of 2011, especially in the most foreclosure-saturated markets and in markets where the judicial foreclosure process is used," said James J. Saccacio, chief executive officer of RealtyTrac. "The 20 metro areas with the biggest year-over-year decreases in foreclosure activity were all in states with judicial foreclosure processes -- New York, Maryland, Florida, New Jersey, Connecticut, Massachusetts, and Illinois.

"These dramatic decreases indicate the foreclosure pipeline continues to be clogged in many local markets across the country, sometimes by a glut of already-foreclosed properties that are not selling quickly, sometimes by a mountain of improperly filed foreclosures that are blocking the inflow of new foreclosure filings -- and sometimes by both."

Top 10 metro foreclosure rates

Las Vegas-Paradise continued to post the nation's highest metro foreclosure rate, with one in every 19 housing units (5.36 percent) receiving a foreclosure filing during the first half of 2011 -- nearly six times the national average. A total of 43,944 Las Vegas properties received a foreclosure filing during the six-month period, a decrease of 18 percent from the previous six months and also an 18 percent decrease from the first half of 2010.

Reno-Sparks was another Nevada metro area with a foreclosure rate ranking among the top 10 in the first half of 2011. One in every 34 housing units (2.96 percent) in the Reno-Sparks area received a foreclosure filing during the six-month period, the nation's seventh highest metro foreclosure rate.

Despite a decrease in foreclosure activity from both the previous six months and the first half of 2010, the Phoenix-Mesa-Scottsdale, Ariz., metro area posted the nation's second highest metro foreclosure rate during the first half of 2011, up from the seventh highest metro foreclosure rate in the first half of 2010. A total of 60,985 Phoenix properties received a foreclosure filing during the six-month period, a decrease of 8 percent from the previous six months and a decrease of nearly 17 percent from the first six months of 2010.

Seven California metro areas posted foreclosure rates ranking among the nation's top 10, led by Modesto at No. 3 with one in every 30 housing units (3.32 percent) receiving a foreclosure filing. Other California cities in the top 10 were Stockton at No. 4 (3.24 percent); Riverside-San Bernardino-Ontario at No. 5 (3.21 percent); Vallejo-Fairfield at No. 6 (3.09 percent); Bakersfield at No. 8 (2.78 percent); Merced at No. 9 (2.78 percent); and Sacramento-Arden-Arcade-Roseville at No. 10 (2.53 percent).

Trends in 20 largest metro areas

All but one of the nation's 20 most-populated metro areas documented year-over-year decreases in foreclosure activity. Seattle was the only exception with a nearly 10 percent increase in foreclosure activity from the first half of 2010. With one in every 98 housing units (1.03 percent) received a foreclosure filing during the six-month period, Seattle's foreclosure rate ranked No. 57 among all metro areas, up from a No. 97 ranking in the first half of 2010.

Seattle's rise in the rankings was the biggest jump among the 20 largest metro areas, followed by Houston, up from a No. 109 ranking in the first half of 2010 to a No. 91 ranking in the first half of 2011, and Minneapolis, up from a No. 79 ranking in the first half of 2010 to a No. 64 ranking in the first half of 2011.

A 74 percent year-over-year decrease in foreclosure activity helped push Baltimore's foreclosure rate ranking from No. 83 in the first half of 2010 to No. 182 in the first half of 2011 -- the biggest drop in rankings among the nation's 20 largest metro areas. That was followed by Washington, D.C., down from a No. 67 ranking in the first half of 2010 to a No. 131 ranking in the first half of 2011, and Boston, down from a No. 120 ranking in the first half of 2010 to a No. 158 ranking in the first half of 2011.


Rate Rank

Metro Name

Properties with Filings

%HU

 

1/every X HU

%Δ from Jul-Dec 10

%Δ from Jan-Jun 10

Rate Rank Jan-Jun 10

--

U.S. Total

1,170,402

0.90

111

-25.49

-29.27

 

1

Las Vegas-Paradise, NV

43,944

5.36

19

-18.10

-17.90

1

2

Phoenix-Mesa-Scottsdale, AZ

60,985

3.51

28

-8.41

-16.86

7

3

Modesto, CA

5,824

3.32

30

-20.90

-27.51

3

4

Stockton, CA

7,422

3.24

31

-18.21

-25.77

6

5

Riverside-San Bernardino-Ontario, CA

46,959

3.21

31

-16.19

-26.30

5

6

Vallejo-Fairfield, CA

4,655

3.09

32

-14.60

-20.90

9

7

Reno-Sparks, NV

5,413

2.96

34

-14.54

-20.44

11

8

Bakersfield, CA

7,633

2.78

36

-20.65

-23.75

12

9

Merced, CA

2,334

2.78

36

-26.35

-37.63

4

10

Sacramento--Arden-Arcade--Roseville, CA

21,721

2.53

39

-17.39

-20.36

14

11

Fresno, CA

7,431

2.40

42

-8.87

-10.80

21

12

Cape Coral-Fort Myers, FL

8,699

2.38

42

-44.35

-52.15

2

13

Prescott, AZ

2,475

2.32

43

2.53

-8.60

27

14

Visalia-Porterville, CA

3,199

2.30

43

-14.51

-14.72

19

15

Boise City-Nampa, ID

5,336

2.20

45

-20.43

-16.88

22

16

Atlanta-Sandy Springs-Marietta, GA

44,160

2.04

49

-18.02

-15.69

30

17

Greeley, CO

1,925

2.04

49

-28.25

-17.52

29

18

Oxnard-Thousand Oaks-Ventura, CA

5,192

1.89

53

-13.02

-16.85

32

19

Tucson, AZ

7,939

1.85

54

1.44

-5.16

39

20

Salt Lake City, UT

7,417

1.85

54

-17.30

-10.38

36

21

Fayetteville-Springdale-Rogers, AR-MO

3,430

1.81

55

-9.83

-16.63

34

22

Detroit-Warren-Livonia, MI

34,295

1.81

55

-20.06

-27.90

28

23

Salinas, CA

2,419

1.72

58

-13.11

-33.01

25

24

Santa Rosa-Petaluma, CA

3,369

1.69

59

-9.24

-9.73

42

25

Flint, MI

3,286

1.66

60

-24.13

-15.31

38

26

San Diego-Carlsbad-San Marcos, CA

18,430

1.61

62

-15.79

-29.48

31

27

Provo-Orem, UT

2,378

1.61

62

-30.12

-28.33

33

28

Los Angeles-Long Beach-Santa Ana, CA

71,344

1.61

62

-9.44

-23.50

35

29

San Luis Obispo-Paso Robles, CA

1,865

1.59

63

-0.32

2.30

50

30

Miami-Fort Lauderdale-Pompano Beach, FL

37,627

1.55

65

-58.66

-60.17

10

31

Santa Barbara-Santa Maria-Goleta, CA

2,314

1.52

66

-6.84

-10.52

45

32

San Francisco-Oakland-Fremont, CA

25,167

1.48

68

-12.63

-20.39

43

33

Chicago-Naperville-Joliet, IL-IN-WI

55,203

1.46

69

-30.84

-29.25

37

34

Chico, CA

1,393

1.45

69

-15.68

-11.22

48

35

Santa Cruz-Watsonville, CA

1,496

1.44

69

0.88

-16.52

44

36

Orlando-Kissimmee, FL

12,711

1.40

71

-58.94

-65.97

8

37

Racine, WI

1,106

1.36

73

2.79

-12.98

#N/A

38

Ogden-Clearfield, UT

2,450

1.35

74

-11.81

-7.69

54

39

San Jose-Sunnyvale-Santa Clara, CA

8,420

1.32

76

0.02

-22.24

46

40

Lansing-East Lansing, MI

2,565

1.30

77

-20.02

-2.06

63

41

Port St. Lucie, FL

2,701

1.29

77

-47.58

-57.42

16

42

Denver-Aurora, CO

13,705

1.29

77

-21.41

-19.79

49

43

Deltona-Daytona Beach-Ormond Beach, FL

3,127

1.25

80

-62.15

-59.20

15

44

Savannah, GA

1,849

1.23

81

-7.73

-8.24

59

45

Ocala, FL

1,984

1.22

82

-38.80

-53.32

24

46

Jacksonville, FL

7,277

1.21

82

-40.73

-52.39

26

47

Sarasota-Bradenton-Venice, FL

4,767

1.21

83

-49.52

-53.98

23

48

Rockford, IL

1,734

1.20

83

-24.41

-38.18

40

49

Charleston-North Charleston, SC

3,505

1.20

84

-27.58

-17.51

55

50

Medford, OR

1,054

1.19

84

-33.63

-37.60

41

51

Grand Rapids-Wyoming, MI

3,744

1.17

86

-15.90

-16.47

56

52

Tampa-St. Petersburg-Clearwater, FL

15,427

1.16

86

-55.33

-56.95

20

53

Milwaukee-Waukesha-West Allis, WI

7,597

1.15

87

-1.30

-6.00

71

54

Colorado Springs, CO

2,985

1.15

87

-23.99

-22.16

53

55

Des Moines-West Des Moines, IA

2,718

1.13

89

29.61

148.90*

163

56

Columbus, OH

8,318

1.07

94

-35.94

-20.64

61

57

Seattle-Tacoma-Bellevue, WA

14,802

1.03

98

-19.51

9.78

97

58

Tulsa, OK

4,152

1.02

98

-12.42

-11.94

75

59

Toledo, OH

3,069

1.02

98

-32.90

-33.18

52

60

Saginaw-Saginaw Township North, MI

901

1.01

99

-20.62

-13.37

76

61

Macon, GA

1,058

1.01

99

-18.68

-17.15

72

62

Akron, OH

3,115

1.01

99

-19.82

-2.75

90

63

Myrtle Beach-Conway-North Myrtle Beach, SC

1,756

1.00

100

-31.57

22.88

111

64

Minneapolis-St. Paul-Bloomington, MN-WI

13,175

0.98

102

-13.01

-13.49

79

65

Salem, OR

1,460

0.98

102

-12.47

-25.74

64

66

Columbia, SC

3,095

0.96

104

17.06

8.79

103

67

Holland-Grand Haven, MI

975

0.96

104

-16.09

-27.94

62

68

Little Rock-North Little Rock-Conway, AR

2,880

0.96

104

-11.44

-10.81

82

69

Kalamazoo-Portage, MI

1,393

0.96

105

-16.08

-15.63

78

70

Naples-Marco Island, FL

1,855

0.95

105

-64.22

-70.32

13

71

Dayton, OH

3,664

0.95

105

-27.66

-29.10

60

72

Cleveland-Elyria-Mentor, OH

9,033

0.95

105

-34.31

-29.99

58

73

Kansas City, MO-KS

8,338

0.95

105

-5.70

-22.21

70

74

Lakeland, FL

2,690

0.95

106

-60.51

-66.92

17

75

Ann Arbor, MI

1,373

0.93

107

-26.14

-20.68

74

76

Portland-Vancouver-Beaverton, OR-WA

8,366

0.92

108

-28.56

-28.09

66

77

Indianapolis-Carmel, IN

6,758

0.89

112

-38.78

-42.21

51

78

New Orleans-Metairie-Kenner, LA

4,498

0.88

114

-4.48

11.86

104

79

Fort Collins-Loveland, CO

1,136

0.87

115

-14.39

-2.74

100

80

Green Bay, WI

1,159

0.85

117

-9.17

-14.59

93

81

Albuquerque, NM

3,086

0.84

119

-30.09

-32.53

68

82

Charlotte-Gastonia-Concord, NC-SC

6,149

0.83

121

-27.66

-18.84

89

83

Canton-Massillon, OH

1,457

0.82

122

-26.82

-33.10

73

84

Virginia Beach-Norfolk-Newport News, VA-NC

5,570

0.81

124

-18.23

-24.16

85

85

Palm Bay-Melbourne-Titusville, FL

2,113

0.79

127

-65.80

-71.72

18

86

Greenville-Mauldin-Easley, SC

2,161

0.78

128

-26.12

-28.87

80

87

Cincinnati-Middletown, OH-KY-IN

7,176

0.78

128

-22.14

-26.60

86

88

Mobile, AL

1,417

0.77

129

-23.94

-14.59

98

89

Nashville-Davidson--Murfreesboro--Franklin, TN

5,075

0.77

130

9.30

-13.19

105

90

Dallas-Fort Worth-Arlington, TX

18,444

0.76

132

-14.22

-21.11

94

91

Houston-Sugar Land-Baytown, TX

17,096

0.75

133

-13.33

-10.67

109

92

York-Hanover, PA

1,323

0.75

134

-33.65

-21.20

96

93

Brownsville-Harlingen, TX

1,096

0.75

134

6.00

49.93

156

94

Youngstown-Warren-Boardman, OH-PA

1,953

0.74

135

-35.97

-31.16

84

95

Appleton, WI

681

0.74

135

-19.12

-1.73

122

96

Austin-Round Rock, TX

4,950

0.74

135

-6.90

-5.73

117

97

Richmond, VA

3,790

0.73

137

-22.21

-26.48

92

98

Manchester-Nashua, NH

1,182

0.72

138

-3.35

-20.56

99

99

Spartanburg, SC

892

0.72

138

-21.27

-15.37

108

100

St. Louis, MO-IL

8,933

0.72

140

-25.66

-20.48

101

101

Bremerton-Silverdale, WA

727

0.71

141

-20.02

-5.58

125

102

Chattanooga, TN-GA

1,629

0.70

143

-5.01

-20.69

107

103

Pensacola-Ferry Pass-Brent, FL

1,403

0.70

143

-53.42

-57.89

47

104

Birmingham-Hoover, AL

3,544

0.70

143

-11.29

-27.03

95

105

Augusta-Richmond County, GA-SC

1,605

0.69

144

-17.48

-14.81

113

106

Olympia, WA

710

0.68

146

-26.27

2.31

139

107

Elkhart-Goshen, IN

534

0.68

147

-38.76

-39.86

#N/A

108

Springfield, IL

653

0.67

148

44.15

24.14

152

109

Madison, WI

1,657

0.66

151

-11.06

-1.37

138

110

Memphis, TN-MS-AR

3,642

0.65

153

-34.32

-50.39

65

111

Columbus, GA-AL

847

0.65

154

-12.41

-14.36

123

112

Gainesville, FL

757

0.65

155

-39.15

-47.76

69

113

San Antonio, TX

4,933

0.63

158

-16.03

-20.65

115

114

Davenport-Moline-Rock Island, IA-IL

1,049

0.63

159

18.93

3.15

142

115

Knoxville, TN

1,986

0.63

159

23.05

-11.62

131

116

Fort Smith, AR-OK

778

0.62

161

-7.60

-4.07

141

117

Las Cruces, NM

487

0.62

162

1.67

11.95

149

118

Providence-New Bedford-Fall River, RI-MA

4,173

0.62

162

-6.79

-20.68

119

119

Killeen-Temple-Fort Hood, TX

917

0.61

164

-7.19

-7.75

140

120

Boulder, CO

761

0.61

164

-19.89

-10.99

136

121

McAllen-Edinburg-Mission, TX

1,567

0.61

164

16.25

1.03

143

122

Anchorage, AK

858

0.61

164

-13.33

-19.96

124

123

Worcester, MA

1,925

0.60

167

-37.50

-47.75

77

124

Baton Rouge, LA

1,979

0.60

168

-4.40

8.92

150

125

Tallahassee, FL

965

0.59

168

-40.80

-43.30

88

126

Louisville/Jefferson County, KY-IN

3,280

0.59

169

-24.48

-20.33

129

127

Winston-Salem, NC

1,253

0.59

170

-28.85

-14.59

132

128

South Bend-Mishawaka, IN-MI

829

0.59

170

-25.32

-20.75

128

129

Reading, PA

945

0.58

171

-31.67

-29.58

110

130

Eugene-Springfield, OR

884

0.58

171

-33.68

-34.13

106

131

Washington-Arlington-Alexandria, DC-VA-MD-WV

12,533

0.58

172

-39.28

-54.64

67

132

Waco, TX

542

0.58

173

38.27

11.29

153

133

Montgomery, AL

916

0.58

174

17.89

-17.03

133

134

Spokane, WA

1,131

0.57

176

-10.31

67.56

177

135

Greensboro-High Point, NC

1,810

0.57

177

-31.54

-26.09

121

136

Wichita, KS

1,467

0.56

179

-15.98

61.56

176

137

Honolulu, HI

1,890

0.56

179

-39.05

-32.11

112

138

Cedar Rapids, IA

602

0.53

187

15.11

15.77

162

139

Amarillo, TX

522

0.52

192

-21.15

-4.04

151

140

Oklahoma City, OK

2,762

0.52

192

-12.84

-28.83

130

141

Raleigh-Cary, NC

2,306

0.51

195

-21.67

-23.62

137

142

Fort Wayne, IN

886

0.49

202

-26.41

-28.43

135

143

Huntsville, AL

850

0.49

205

-15.84

21.26

169

144

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD

11,628

0.48

206

-44.77

-40.85

114

145

Topeka, KS

504

0.48

207

-16.69

-14.58

148

146

Springfield, MO

898

0.48

210

-33.13

-21.02

144

147

Shreveport-Bossier City, LA

812

0.46

216

-4.58

9.88

165

148

Corpus Christi, TX

805

0.45

222

-13.72

-10.36

155

149

Allentown-Bethlehem-Easton, PA-NJ

1,471

0.44

229

-41.07

-36.89

134

150

Lafayette, LA

497

0.44

229

-3.68

15.58

171

151

Omaha-Council Bluffs, NE-IA

1,541

0.43

233

-5.58

4.19

168

152

New Haven-Milford, CT

1,467

0.42

239

-46.67

-60.73

87

153

Atlantic City, NJ

534

0.42

239

-64.49

-69.83

57

154

Laredo, TX

299

0.42

240

-17.17

-26.17

147

155

Sioux Falls, SD

392

0.41

243

-28.47

-15.52

159

156

Harrisburg-Carlisle, PA

943

0.40

248

-4.55

25.73

182

157

Bellingham, WA

355

0.40

248

-34.01

-19.50

#N/A

158

Boston-Cambridge-Quincy, MA-NH

7,391

0.40

249

-38.84

-47.87

120

159

Clarksville, TN-KY

444

0.40

253

-24.49

-32.01

146

160

Beaumont-Port Arthur, TX

642

0.39

257

-5.45

5.07

172

161

Bridgeport-Stamford-Norwalk, CT

1,368

0.39

258

-43.63

-61.98

91

162

Springfield, MA

1,076

0.38

266

-41.84

-53.20

116

163

Poughkeepsie-Newburgh-Middletown, NY

906

0.36

275

-32.59

-12.97

167

164

Yakima, WA

307

0.36

276

-28.44

11.23

181

165

Barnstable Town, MA

556

0.36

280

-46.23

-60.37

102

166

Hartford-West Hartford-East Hartford, CT

1,763

0.36

280

-38.74

-52.42

126

167

Portland-South Portland-Biddeford, ME

900

0.35

286

4.05

-3.54

173

168

Norwich-New London, CT

401

0.34

293

-46.03

-56.65

118

169

Hagerstown-Martinsburg, MD-WV

392

0.34

295

-36.16

-54.04

127

170

Fayetteville, NC

499

0.33

304

-24.16

181.92

201

171

Trenton-Ewing, NJ

465

0.33

304

-62.98

-69.96

81

172

Houma-Bayou Cane-Thibodaux, LA

269

0.32

311

22.83

28.71

188

173

Roanoke, VA

451

0.32

313

-37.19

-35.66

157

174

Peoria, IL

519

0.32

317

25.67

-24.89

166

175

Lancaster, PA

612

0.31

321

-38.31

-33.77

160

176

Scranton--Wilkes-Barre, PA

784

0.30

331

-30.31

-35.42

161

177

Duluth, MN-WI

413

0.30

335

-18.38

-10.41

178

178

Pittsburgh, PA

3,276

0.29

339

-38.78

-42.97

154

179

Tyler, TX

225

0.29

348

-11.42

0.90

184

180

Kingsport-Bristol-Bristol, TN-VA

419

0.28

351

22.87

18.36

189

181

New York-Northern New Jersey-Long Island, NY-NJ-PA

21,141

0.28

353

-44.30

-52.52

145

182

Baltimore-Towson, MD

3,119

0.28

357

-59.98

-74.07

83

183

Gulfport-Biloxi, MS

298

0.27

368

-30.37

-43.56

158

184

Jackson, MS

608

0.27

370

-56.57

15.37

191

185

Hickory-Lenoir-Morganton, NC

407

0.25

393

-37.29

-26.53

175

186

Lynchburg, VA

277

0.25

398

-39.78

-23.27

180

187

Lexington-Fayette, KY

479

0.23

429

-23.73

11.92

194

188

Wilmington, NC

472

0.23

434

-36.04

-33.14

174

189

Evansville, IN-KY

364

0.23

443

-44.17

-41.38

170

190

Asheville, NC

451

0.22

455

-50.87

-30.08

183

191

Longview, TX

185

0.22

464

20.92

-3.14

193

192

Kennewick-Richland-Pasco, WA

184

0.21

478

-49.17

-10.68

190

193

Lubbock, TX

248

0.21

486

25.25

12.22

195

194

Erie, PA

243

0.20

489

-17.35

-28.11

185

195

Champaign-Urbana, IL

186

0.19

535

-55.50

-58.11

164

196

Fargo, ND-MN

168

0.19

537

15.86

-6.15

#N/A

197

Florence, SC

155

0.18

555

24.00

-8.28

#N/A

198

Durham, NC

382

0.17

572

-43.07

-46.65

179

199

Huntington-Ashland, WV-KY-OH

202

0.15

659

-32.21

-13.30

196

200

Binghamton, NY

147

0.13

755

-45.96

-42.58

192

201

Lincoln, NE

148

0.12

844

-15.91

4.96

202

202

El Paso, TX

294

0.11

887

-38.49

-55.32

187

203

Albany-Schenectady-Troy, NY

422

0.11

908

-10.21

-28.72

198

204

College Station-Bryan, TX

78

0.09

1,164

-19.59

-17.89

203

205

Tuscaloosa, AL

79

0.08

1,244

-25.47

-34.17

199

206

Buffalo-Niagara Falls, NY

397

0.08

1,316

-49.36

-56.61

197

207

Rochester, NY

314

0.07

1,414

-46.42

-73.86

186

208

Charleston, WV

69

0.05

2,126

-45.67

32.69

204

209

Syracuse, NY

74

0.03

3,883

-77.16

-77.78

200

210

Burlington-South Burlington, VT

10

0.01

8,973

-81.82

-62.96

205

211

Utica-Rome, NY

14

0.01

9,757

-57.58

-50.00

206






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