Foreclosure Activity High Says realtytrac.com
February 13, 2009 by Emma Sorensen
Hitwise figures for January show an increase in traffic to websites listing foreclosure properties. It’s no wonder then, that realtytrac.com’s January 2009 Foreclosure Market report, released this week, shows foreclosure filings were up 18% on January 2008.
Foreclosure filings include default notices, auction sale notices and bank repossessions were reported for 274,399 US properties during January 2009. Although this is a substantial year-on-year increase, it actually represents a 10 percent decrease from December 2008.
“The extensive foreclosure efforts on the part of lenders and government agencies appear to have impacted the January numbers — particularly the Fannie Mae and Freddie Mac moratorium on all foreclosure sales that was extended through the end of January along with Florida’s voluntary 45-day freeze on all new foreclosure actions and scheduling of foreclosure sales that was announced at the beginning of December,” said James J. Saccacio, chief executive officer of RealtyTrac, in a statement from the company.
“January REOs, which represent completed foreclosure sales to the foreclosing lender, were down 15 percent nationwide from the previous month. And in Florida overall foreclosure activity was down 20 percent from the previous month.”
Nevada posted the highest foreclosure rate, followed by California then Arizona.
Founded in 1996, realtytrac.com is now ranked as the third largest real estate site by MediaMetrix and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest-growing private companies. realtytrac.com is currently one of the leading online marketplaces for foreclosure properties.
The latest Hitwise figures showed foreclosurestogo.com and foreclosuretogo.com both entering the top 100 rankings with increased traffic. foreclosure.com and foreclosurestore.com also rose up the rankings to number 16 and 17 respectively. Other popular foreclosure websites include foreclosures.com, and propertyshark.com.
[Image: US Foreclosure Rates Heat Map – Jan 2009, courtesy realtytrac.com.]
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Thank you for all of the great information. I knew foreclosures were high but not the states that had the highest.
[...] had a strong start to 2009, but dropped off the Hitwise top 20 list of US real estate websites in September and laid [...]
[...] had a strong start to 2009, but dropped off the Hitwise top 20 list of US real estate websites in September and laid [...]