RealtyTrac Reports January 2016 Home Foreclosure Findings 11 Percent Below January 2015

IRVINE, CA – RealtyTrac reports there were 95,186 U.S. properties with foreclosure filings in January, down 8 percent from the previous month and down 11 percent from a year ago to the lowest level since July 2006, a nearly 10-year low.

·         Lenders completed foreclosure (REO) on 29,275 U.S. properties in January, down 26 percent from the previous month but still up 32 percent from a year ago – the 11th consecutive month with a year-over-year increase in REOs.

·         Lenders started the foreclosure process for the first time on 41,471 U.S. properties in January, down 1 percent from the previous month and down 18 percent from a year ago – the seventh consecutive month with a year-over-year decrease in foreclosure starts. Foreclosure starts continue to run at pre-recession levels.

State highlights

·         States with the highest foreclosure rates in January were New Jersey, Nevada, Maryland, Florida and Delaware.

·         22 states (and the District of Columbia) posted year-over-year increases in foreclosure activity in January, including Oklahoma (up 74 percent), Massachusetts (up 40 percent), New Jersey (up 39 percent), Alabama (up 35 percent), and Pennsylvania (up 17 percent).

·         34 states (and the District of Columbia) posted year-over-year increases in REOs in January, including New York (up 263 percent), Texas (up 198 percent), New Jersey (up 132 percent), Georgia (up 76 percent), and Maryland (up 72 percent).

·         12 states (and the District of Columbia) posted year-over-year increases in foreclosure starts in January, including Oklahoma (up 289 percent), Massachusetts (up 49 percent), New Jersey (up 18 percent), Pennsylvania (up 8 percent), and Indiana (up 7 percent).

Metro highlights

·         Metro areas with the highest foreclosure rates in January were Atlantic City, New Jersey, Trenton, New Jersey, Fayetteville, North Carolina, Tampa, Florida, and Las Vegas.

·         17 of the nation’s 50 most-populous metro areas posted a year-over-year increase in foreclosure activity in January, including Oklahoma City (up 143 percent), Buffalo, New York (up 103 percent), Louisville, Kentucky (up 89 percent), Birmingham, Alabama (up 47 percent), Pittsburgh, Pennsylvania (up 31 percent), Richmond, Virginia (up 25 percent), Boston (up 24 percent), New York (up 20 percent), Philadelphia (up 18 percent), and Portland, Oregon (up 18 percent).

For a complete copy of the company’s news release, please contact:

jennifer.vonpohlmann@realtytrac.com