RTTNews - RealtyTrac, the online marketplace for foreclosure properties, on Thursday said U.S. foreclosure activity increased 11% sequentially in the second quarter and was up 20% from the year-ago period. Foreclosure filings were reported on 889,829 U.S. properties in the second quarter.

Releasing its Midyear 2009 U.S. Foreclosure Market Report, the company said the second quarter foreclosure figure is the highest quarterly total since the first quarter of 2005.
The company said 1,905,723 foreclosure filings were reported on 1,528,364 U.S. properties in the first six months of 2009. This represented a 9% sequential increase and a 15% year-over-year increase in total properties.

The report shows that 1.19%, or one in 84, of all U.S. housing units received at least one foreclosure filing in the first half of the year.

Foreclosure filings were reported on 336,173 U.S. properties in June, the fourth straight monthly total exceeding 300,000.
The data showed that California, Florida and Arizona posted highest foreclosure totals. A total of 391,611 California properties received a foreclosure filing in the first half of 2009, California foreclosure activity in the first half of 2009 increased nearly 14% from the previous six months and was up 15% from the first half of 2008.

With 268,064 properties receiving a foreclosure filing in the first six months of 2009, Florida showed the second highest state total. Florida foreclosure activity in the first half of 2009 increased 7% from the previous six months and was up about 42% from the first half of 2008.

Arizona's 89,799 properties receiving a foreclosure filing in the first six months of 2009 was the third highest state total. Arizona foreclosure activity in the first half of 2009 rose 13% from the previous six months and was up nearly 55% from the first half of 2008.

Nevada, Arizona and Florida posted top state foreclosure rates during the first half. A total of 68,708 Nevada properties received a foreclosure filing from January to June, up 23% from the previous six months and up 61% from the first half of 2008.

Arizona registered the nation's second highest state foreclosure rate in the first half of 2009, with 3.37% of its housing units receiving at least one foreclosure filing, and Florida registered the nation's third highest state foreclosure rate, with 3.08% of its housing units receiving at least one foreclosure filing.

Other states with foreclosure rates ranking among the nation's 10 highest were California, Utah, Georgia, Michigan, Illinois, Idaho and Colorado.

According to James Saccacio, chief executive officer of RealtyTrac, In spite of the industry-wide moratorium earlier this year, along with local, state and national legislative action and increased levels of loan modification activity, foreclosure activity continues to increase to record levels. Unemployment-related foreclosures account for much of this increased activity.''

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