IRVINE, Calif.—Foreclosure filings saw an increase of 2 percent from the 78-month low reported in June in July 2013. RealtyTrac’s U.S. Foreclosure Market Report showed that 130,888 foreclosure filings were reported on U.S. properties in July. Foreclosure starts increased from the previous month in 26 states and were up from a year ago in 15 states. Bank repossessions increased from the previous month in 29 states and were up from a year ago in 18 states.
The top six state foreclosure rates in July were in states with a judicial foreclosure process. “While foreclosures are continuing to boil over in a select group of markets where state legislation and court rulings kept a lid on foreclosure activity during the worst of the housing crisis, the foreclosure boil-over markets are becoming fewer and farther between as lenders have caught up with the backlog of delayed foreclosures in some of the states with the more lengthy judicial foreclosure process,” said Daren Blomquist, vice president of RealtyTrac. The states reporting the highest foreclosure rates for July are:
- Florida with one in every 328 housing units with a foreclosure filing during the month
- Maryland with one in every 598 housing units
- Ohio with one in every 639 housing units
- Connecticut with one in every 660 housing units
- New Mexico with one in every 678 housing units
- Illinois with one in every 682 housing units
- Nevada with one in every 731 housing units
- Georgia with one in every 742 housing units
- South Carolina with one in every 785 housing units
- And Utah with one in every 824 housing units
More information on the July U.S. Foreclosure Market Report and RealtyTrac can be found here.