Industry News

RealtyTrac: Nevada remains tops in foreclosure rate

Detroit ranks highest among metro areas

Foreclosure activity nearly doubled in July compared to the same month last year, to a rate of one foreclosure filing for every 693 U.S. households, data provider RealtyTrac reported today. The U.S. Foreclosure Market Report for July shows 179,599 foreclosure filings for the month, which includes default notices, auction-sale notices and bank repossessions. Foreclosure activity across the country increased 93.4 percent year-over-year in July. Nevada remained at the top of the list with the nation's highest foreclosure rate in July, with one foreclosure filing for every 199 households. The state reported 5,116 foreclosure filings during in July, up 215 percent compared to July 2006. Next on the list was Georgia, which moved up from eighth in June to second in July with a foreclosure rate of one filing for every 299 households. Georgia reported 12,602 foreclosure filings in July, up 168 percent compared to July 2006, according to RealtyTrac. Michigan took third place on the li...