Foreclosure activity falls
Lenders repossessed 71,563 homes in June, according to RealtyTrac, up from just 26,369 homes in the same month a year ago.
During the first six months of 2008, 343,159 Americans lost their homes, up 136 percent from the 145,696 recorded during the same period in 2007.
The RealtyTrac report also revealed that foreclosure filings of all types, including notices of default, notices of auction sales and bank repossessions, rose 53 percent from June 2007 to 252,363. For the first six months, total filings rose 56 percent to 1.4 million. When compared with May, however, filings were down 3 percent.
Arizona continues to be one of the hardest hit areas when it comes to foreclosures, ranking third among states. In June, one in every 201 households had received a foreclosure notice.
Nevada led all states in the rate of foreclosure activity for the 17th consecutive month, with one filing for every 122 households. California had the most filings with 68,666, one for every 192 households.
Seven of the 10 hardest hit metropolitan areas were in California. Stockton had one foreclosure for every 72 households - more than six times the national average of one in 501 households.
RealtyTrac is an online marketplace for foreclosure properties.
http://phoenix.bizjournals.com/phoenix/stories/2008/07/07/daily55.html?surround=lfn
