After months of decline, foreclosure activity increased in July, led by Florida and six other judicial states where legal procedures delay foreclosure processing.
The top six state foreclosure rates in July were in states with a judicial foreclosure process, although two of those top six states posted decreasing foreclosure activity from a year ago: Ohio (down 18 percent) and Illinois (down 44 percent).
RealtyTrac reported default notices, scheduled auctions and bank repossessions on 130,888 U.S. properties in July, an increase of 2 percent from the 78-month low in June but still down 32 percent from July 2012. The report also shows one in every 1,001 U.S. housing units with a foreclosure filing during the month.
Foreclosure starts increased from the previous month in 26 states and were up from a year ago in 15 states, including Maryland (up 275 percent), Oregon (up 137 percent), New Jersey (up 89 percent), Connecticut (up 37 percent), and New York (up 27 percent).
Bank repossessions increased from the previous month in 29 states and were up from a year ago in 18 states, including Arkansas (up 266 percent), Oklahoma (up 126 percent), Maryland (up 101 percent), New York (up 100 percent), Connecticut (up 67 percent), New Jersey (up 40 percent), and Ohio (up 20 percent).
Among the nation’s 20 largest metropolitan statistical areas, 10 posted increasing foreclosure activity from the previous month and five posted increasing foreclosure activity from a year ago: Baltimore (up 182 percent), Miami (up 58 percent), New York (up 42 percent), Philadelphia (up 11 percent), and Washington, D.C. (up 5 percent).
Nine of the nation’s 10 highest metro foreclosure rates in July were in Florida cities, and five of those nine Florida cities posted increasing foreclosure activity from a year ago. Florida also led the states in foreclosures for the third consecutive month.
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