Sacramento foreclosure rate was No. 10 in U.S. in August
Real Estate News from the We Buy Houses Team
Foreclosure filings continued to rise around the United States and in California during August, with Stockton leading the nation in filing rate and Sacramento at No. 10 out of 230 metro areas studied. Filings of all types — default notices, auction sale notices and bank repossessions — were reported for 303,879 U.S. properties during August, up 12 percent from July and 27 percent from August 2007, according to a report released Friday by Irvine-based RealtyTrac. The report showed one in every 416 U.S. households received a foreclosure filing during the month. California again was recorded the nation’s second-highest state foreclosure rate, behind only Nevada, which has topped the list for 20 consecutive months. One in every 130 California households receiving a foreclosure filing in August — a total of 101,724 filings, up 76 percent from August 2007 and more than 40 percent from July. In Nevada, the rate was one in 91, although the number of households in Nevada is much smaller. California cities accounted for eight of the top 10 metro foreclosure rates out of the 230 metro areas tracked in the August report. Stockton was No. 1, with one in every 50 households in San Joaquin County receiving a foreclosure filing during the month, followed by Merced, Modesto, Vallejo-Fairfield and Riverside-San Bernardino in the No. 2 to 5 spots. Bakersfield, Salinas-Monterey and Sacramento held the No. 8, 9 and 10 spots. Sacramento County had 5,971 foreclosure actions of all kinds during the month, including the seizure of 2,288 homes by the lender. That was up 37 percent from July and 13 percent from Aug. 2007. In the four-county Sacramento region, there were 7,726 foreclosure actions, up 16 percent in a year. Yolo County saw foreclosure actions jump 193 percent, from 112 in Aug. 2007 to 328 a year later. Florida posted the second-highest total in August, with foreclosure filings reported on 44,000 properties during the month — down 4 percent from July but still up nearly 30 percent from August 2007. One in every 194 Florida properties received a foreclosure filing in August, the nation’s fourth-highest state foreclosure rate. California, Florida and Arizona together accounted for more than half of the nation’s foreclosure activity.