|By Marketwired .||
|June 10, 2014 12:01 AM EDT||
IRVINE, CA -- (Marketwired) -- 06/10/14 -- RealtyTrac® (www.realtytrac.com), the nation's leading source for comprehensive housing data, today released its U.S. Foreclosure Market Report for May 2014, which shows foreclosure filings -- default notices, scheduled auctions and bank repossessions -- were reported on 109,824 U.S. properties in May, a 5 percent decrease from the previous month and a 26 percent decrease from May 2013 to the lowest monthly level since December 2006. The report also shows one in every 1,199 U.S. housing units with a foreclosure filing during the month.
Despite the decrease in overall foreclosure activity nationwide, 21 states posted monthly increases in overall foreclosure activity, and 11 states posted annual increases in foreclosure activity.
States with annual increases in foreclosure activity included Massachusetts: up 58 percent from a year ago to an 18-month high; New Jersey: up 37 percent from a year ago, making May the 23rd month out of the last 27 where New Jersey foreclosure activity has increased annually; New York: up 18 percent from a year ago to a 14-month high; and Indiana: up 12 percent from a year ago, marking the third consecutive month with an annual increase.
Among the nation's 20 largest metropolitan statistical areas, four posted year-over-year increases in foreclosure activity:
- Boston-Cambridge-Quincy: up 44 percent from a year ago to an 18-month high following 21 consecutive months of year-over-year decreases
- New York-Northern New Jersey-Long Island: up 23 percent, marking the 24th month out of the last 27 with an annual increase
- Washington-Arlington-Alexandria: up 8 percent, marking the 13th month out of the last 15 with an annual increase
- Philadelphia-Camden-Wilmington: up 5 percent, marking the 14th month out of the last 15 with an annual increase
"It's not surprising that some of the states with the longest foreclosure timelines are those with markets still dealing with increasing foreclosure activity even as the country as a whole continues to hit new lows," said Daren Blomquist, vice president at RealtyTrac. "On the other hand, the increase in bank repossessions in some states with shorter foreclosure timelines like California and Oregon demonstrates there is still some pent-up foreclosure activity in those states as well."
Bank repossessions at lowest level since July 2007, up in NY, NJ, CT, MD, OR, CA
Lenders repossessed 28,373 U.S. properties in May, down 6 percent from the previous month and down 27 percent from May 2013 to the lowest monthly level since July 2007 -- an 82-month low.
Despite the decrease nationally, bank repossessions (REO) increased from the previous month in 25 states and were up from a year ago in 14 states, including the following:
- New York: up 117 percent, the 16th month out of the last 20 with an annual increase
- New Jersey: up 96 percent, the 11th of the last 12 months with an annual increase
- Connecticut: up 85 percent, the 15th consecutive month with an annual increase
- Maryland: up 40 percent, the 15th consecutive month with an annual increase
- Oregon: up 29 percent, the sixth consecutive month with an annual increase
- California: up 26 percent, the second consecutive month with an annual increase after 28 consecutive months with annual decreases
- Illinois: up 20 percent, the second consecutive month with an annual increase after 12 consecutive months with annual decreases.
"We continue to see a decline in distressed properties through the Southern California market," said Chris Pollinger, senior vice president of sales at First Team Real Estate, covering the Southern California market. "As the market continues to stabilize, foreclosure activity is being replaced by traditional equity sellers, who continue to replace distressed inventory, especially in the foreclosure and REO markets."
U.S. foreclosure auctions at lowest level since December 2006, up in 16 states
Lenders scheduled foreclosure auctions for 47,085 U.S. properties in May, down 4 percent from the previous month and down 22 percent from a year ago to the lowest level since December 2006 -- an 89-month low.
Despite the national decrease, scheduled foreclosure auctions increased from the previous month in 27 states and was up from a year ago in 16 states, including the following:
- Utah: up 199 percent, the 12th consecutive month with an annual increase
- Oregon: up 157 percent, the 11th consecutive month with an annual increase
- New Jersey: up 70 percent to the highest level since July 2010 -- a 46-month high
- Massachusetts: up 43 percent to an eight-month high
U.S. foreclosure starts at lowest level since December 2005, up in 12 states
Lenders started the public foreclosure process on 49,240 U.S. properties in May, down 10 percent from the previous month and down 32 percent from a year ago to the lowest level since December 2005 -- a 101-month low.
Despite the national decrease, foreclosure starts -- which can be the scheduled public foreclosure auction in some states -- increased from the previous month in 17 states and was up from a year ago in 12 states, including the following:
- Massachusetts: up 178 percent to a 15-month high
- Indiana: up 67 percent, marking the third consecutive month with an annual increase
- Delaware: up 26 percent, the 12th out of the last 15 months with an annual increase
- New Jersey: up 15 percent, the 25th out of the last 27 months with an annual increase
- New York: up 14 percent to a 14-month high
Florida, Maryland, Nevada, Illinois, Ohio post top state foreclosure rates
Florida foreclosure activity decreased 30 percent on a year-over-year basis in May -- the 10th consecutive month with an annual decrease -- but the state still posted the nation's highest state foreclosure rate for the eighth consecutive month. One in every 436 Florida housing units had a foreclosure filing in May, nearly three times the national average.
Maryland foreclosure activity decreased 5 percent on a year-over-year basis in May -- following 22 consecutive months of annual increases -- but the state still posted the nation's second highest foreclosure rate for the month: one in every 621 housing units with a foreclosure filing.
Nevada foreclosure activity decreased 57 percent on a year-over-year basis in May -- the eighth consecutive month with an annual decrease -- but the state's foreclosure rate still ranked third highest for the month. One in every 717 Nevada housing units had a foreclosure filing in May.
Illinois foreclosure activity decreased 23 percent on a year-over-year basis in May, but two consecutive months with annual increases in REO activity boosted the state's foreclosure rate to fourth highest nationwide in May. One in every 790 Illinois housing units had a foreclosure filing for the month.
Ohio foreclosure activity decreased 27 percent on a year-over-year basis in May -- the ninth consecutive month with an annual increase -- but the state still posted the nation's fifth highest foreclosure rate for the month: one in every 805 housing units with a foreclosure filing.
Other states with foreclosure rates among the nation's 10 highest in May were New Jersey at No. 6 (one in every 815 housing units with a foreclosure filing); Delaware at No. 7 (one in every 818 housing units); Indiana at No. 8 (one in every 823 housing units); Connecticut at No. 9 (one in every 835 housing units); and South Carolina at No. 10 (one in every 851 housing units).
"May 2014 delivered further noticeable evidence of a growing economy throughout Ohio," said Michael Mahon, executive vice president/broker at HER Realtors, covering the Cincinnati, Columbus and Dayton, Ohio markets. "As property values continue to increase, homeowners are taking advantage of restored equity by placing their homes for sale. This recent activity is assisting in balancing the overall listing inventory across much of Ohio, lessening the year over year foreclosure activity."
Top 20 metro foreclosure rates in FL, IL, PA, NJ, SC, OH, NV, CA
Florida accounted for the eight highest foreclosure rates among metropolitan statistical areas with a population of 200,000 or more, led by Palm Bay-Melbourne-Titusville at No. 1, with one in every 303 housing units with a foreclosure filing -- nearly four times the national average.
The other Florida cities in the top 10 were Deltona-Daytona Beach-Ormond Beach at No. 2 (one in every 314 housing units with a foreclosure filing); Orlando-Kissimmee at No. 3 (one in every 336 housing units); Lakeland at No. 4 (one in every 379 housing units); Port St. Lucie at No. 5 (one every 381 housing units); Ocala at No. 6 (one in every 384 housing units); Tampa-St. Petersburg-Clearwater at No. 7 (one in every 386 housing units); and Miami-Fort Lauderdale-Pompano Beach at No. 8 (one in every 405 housing units).
Other cities with foreclosure rates in the top 10 were Rockford, Ill., at No. 9 with one in every 450 housing units with a foreclosure filing, and York-Hanover, Pa., at No. 10 with one in every 478 housing units with a foreclosure filing.
Cities with foreclosure rates ranking among the top 20 highest included Atlantic City, N.J. at No. 11 (one in every 495 housing units with a foreclosure filing); Columbia, S.C., at No. 15 (one in every 544 housing units); Chicago-Naperville-Joliet at No. 16 (one in every 573 housing units); Cleveland-Elyria-Mentor at No. 17 (one in every 605 housing units); Las Vegas-Paradise at No. 18 (one in every 618 housing units); and Riverside-San Bernardino-Ontario at No. 19 (one in every 622 housing units).
The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month -- broken out by type of filing. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac's report incorporates documents filed in all three phases of foreclosure: Default -- Notice of Default (NOD) and Lis Pendens (LIS); Auction -- Notice of Trustee's Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). The report does not count a property again if it receives the same type of foreclosure filing multiple times within the estimated foreclosure timeframe for the state where the property is located.
The RealtyTrac U.S. Foreclosure Market Report is the result of a proprietary evaluation of information compiled by RealtyTrac; the report and any of the information in whole or in part can only be quoted, copied, published, re-published, distributed and/or re-distributed or used in any manner if the user specifically references RealtyTrac as the source for said report and/or any of the information set forth within the report.
Data Licensing and Custom Report Order
Investors, businesses and government institutions can contact RealtyTrac to license bulk foreclosure and neighborhood data or purchase customized reports. For more information please contact our Data Licensing Department at 800.462.5193 or [email protected].
RealtyTrac is a leading supplier of U.S. real estate data, with nationwide parcel-level records for more than 125 million U.S. parcels that include property characteristics, tax assessor data, sales and mortgage deed records, Automated Valuation Models (AVMs) and 20 million active and historical default, foreclosure auction and bank-owned properties. RealtyTrac's housing data and foreclosure reports are relied on by the Federal Reserve, U.S. Treasury Department, HUD, numerous state housing and banking departments, investment funds as well as millions of real estate professionals and consumers, to help evaluate housing trends and make informed decisions about real estate.
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Nov. 28, 2014 05:00 PM EST Reads: 1,314
"We help companies that are using a lot of Software as a Service. We help companies manage and gain visibility into what people are using inside the company and decide to secure them or use standards to lock down or to embrace the adoption of SaaS inside the company," explained Scott Kriz, Co-founder and CEO of Bitium, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Nov. 27, 2014 07:00 PM EST Reads: 1,471
15th Cloud Expo, which took place Nov. 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, expanded the conference content of @ThingsExpo, Big Data Expo, and DevOps Summit to include two developer events. IBM held a Bluemix Developer Playground on November 5 and ElasticBox held a Hackathon on November 6. Both events took place on the expo floor. The Bluemix Developer Playground, for developers of all levels, highlighted the ease of use of Bluemix, its services and functionalit...
Nov. 27, 2014 07:00 PM EST Reads: 1,435
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's large...
Nov. 27, 2014 06:00 PM EST Reads: 1,834
Some developers believe that monitoring is a function of the operations team. Some operations teams firmly believe that monitoring the systems they maintain is sufficient to run the business successfully. Most of them are wrong. The complexity of today's applications have gone far and beyond the capabilities of "traditional" system-level monitoring tools and approaches and requires much broader knowledge of business and applications as a whole. The goal of DevOps is to connect all aspects of app...
Nov. 27, 2014 06:00 PM EST Reads: 1,244
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, discussed how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP HANA...
Nov. 27, 2014 05:00 PM EST Reads: 1,405
When an enterprise builds a hybrid IaaS cloud connecting its data center to one or more public clouds, security is often a major topic along with the other challenges involved. Security is closely intertwined with the networking choices made for the hybrid cloud. Traditional networking approaches for building a hybrid cloud try to kludge together the enterprise infrastructure with the public cloud. Consequently this approach requires risky, deep "surgery" including changes to firewalls, subnets...
Nov. 27, 2014 04:45 PM EST Reads: 1,304
Want to enable self-service provisioning of application environments in minutes that mirror production? Can you automatically provide rich data with code-level detail back to the developers when issues occur in production? In his session at DevOps Summit, David Tesar, Microsoft Technical Evangelist on Microsoft Azure and DevOps, will discuss how to accomplish this and more utilizing technologies such as Microsoft Azure, Visual Studio online, and Application Insights in this demo-heavy session.
Nov. 27, 2014 04:45 PM EST Reads: 1,250
DevOps is all about agility. However, you don't want to be on a high-speed bus to nowhere. The right DevOps approach controls velocity with a tight feedback loop that not only consists of operational data but also incorporates business context. With a business context in the decision making, the right business priorities are incorporated, which results in a higher value creation. In his session at DevOps Summit, Todd Rader, Solutions Architect at AppDynamics, discussed key monitoring techniques...
Nov. 27, 2014 04:30 PM EST Reads: 1,307
Cultural, regulatory, environmental, political and economic (CREPE) conditions over the past decade are creating cross-industry solution spaces that require processes and technologies from both the Internet of Things (IoT), and Data Management and Analytics (DMA). These solution spaces are evolving into Sensor Analytics Ecosystems (SAE) that represent significant new opportunities for organizations of all types. Public Utilities throughout the world, providing electricity, natural gas and water,...
Nov. 27, 2014 04:00 PM EST Reads: 1,376
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, a...
Nov. 27, 2014 04:00 PM EST Reads: 1,725
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happe...
Nov. 27, 2014 03:00 PM EST Reads: 1,386
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series dat...
Nov. 27, 2014 03:00 PM EST Reads: 1,523
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and asse...
Nov. 27, 2014 01:00 PM EST Reads: 1,718
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, discussed how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money!
Nov. 27, 2014 11:00 AM EST Reads: 1,333