Another Positive Report on SA Foreclosures

Tuesday, August 14, 2007
San Antonio foreclosure rate down, recent study reports
San Antonio Business Journal - by Tricia Lynn Silva
On a recent Top 100 list, San Antonio didn't even rank in the Top 20.
And that's a good thing.
Irvine, Calif.-based RealtyTrac Inc. has released its list of the Top 100 cities with the highest foreclosure rates.
Between Jan. 1 and June 30, 2007, San Antonio reported 6,409 foreclosure filings -- which equates to a rate of one filing for every 112 local households. The city's current foreclosure rate earned it the No. 43 spot on RealtyTrac's dubious Top 100 list.
The current foreclosure rate here marks a 15 percent decline from the rate posted just six months ago, according to RealtyTrac. On a year-over-year basis, San Antonio's foreclosure rate was down 1 percent as of June 30, 2007.
The cities that had the luck to be in the bottom three of RealtyTrac's Top 100 list were McAllen, Texas; Greenville, S.C.; and Richmond Va.
The McAllen/Edinburg/Pharr metro reported a foreclosure rate of one filing for every 1,494 households, according to RealtyTrac's mid-year report. Greenville and Richmond reported one foreclosure filing for every 1,721 and 2,319 households, respectively.
"This report clearly demonstrates that not all local housing markets are flooded with foreclosures," says RealtyTrac CEO James J. Saccacio. "... Foreclosure activity seems to be subsiding in parts of Texas, South Carolina and other states ... ."
The cities taking the top three spots: Stockton, Calif.; Detroit and Las Vegas. Stockton recorded a foreclosure rate of one filing for every 27 households. Detroit and Las Vegas recorded a rate of one filing for every 29 and 31 households, respectively.
RealtyTrac (www.realtytrac.com) operates a national online database of available properties for sale.
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