Tulsa MSA Ranks 33rd in Foreclosures

RealtyTrac has released year-end data from its 2006 U.S. Foreclosure Market Report, which shows more than 1.2 million foreclosure filings were reported nationwide during the year, up 42 percent from 2005 and a foreclosure rate of one foreclosure filing for every 92 U.S. households.
The number of total foreclosure filings rose from about 885,000 in 2005 to 1,259,118 in 2006.
Oklahoma ranked 22nd with 15,586 foreclosures for the year, or one filing for every 96 households. Tulsa ranked 33rd nationally and reported one foreclosure for every 62 households.
Colorado, Georgia and Nevada post the highest foreclosure rates.
Colorado documented the nation’s highest state foreclosure rate for the year, with one foreclosure filing for every 33 households — or 3 percent of the state’s households. The state reported a total of 54,747 foreclosure filings during the year, an 85 percent increase from 2005 and the eighth highest total among all the states.
Georgia and Nevada both reported one foreclosure filing for every 41 households in 2006, but Georgia edged out Nevada with a slightly higher percentage of households in foreclosure — 2.5 percent compared to 2.4 percent in Nevada. Georgia reported a total of 75,975 foreclosure filings during the year, the sixth most of any state and a 67 percent year-over-year increase. Nevada foreclosures surged in fourth quarter, pushing that state’s total for the year to 21,045 — nearly three times the number reported in 2005.
States with foreclosure rates among the nation’s 10 highest included Texas, Michigan, Indiana, Florida, Ohio, Utah and Tennessee.
Texas, California, and Florida report the largest number of foreclosure totals.
Texas reported 156,876 foreclosure filings for the year, the most of any state and nearly 13 percent of the national total. The state consistently reported big foreclosure numbers throughout 2006, documenting the highest monthly total eight times, and foreclosures for the year were up more than 14 percent from 2005. Texas’ foreclosure total represented nearly 2 percent of the state’s households — or one foreclosure filing for every 51 households — giving the state the nation’s fourth highest state foreclosure rate.
Rising foreclosure activity in the fourth quarter pushed California’s 2006 foreclosure total to second highest among the states. The state reported 142,429 foreclosure filings during the year, more than twice the number reported in 2005 and accounting for more than 11 percent of the national total. California’s 2006 foreclosure rate of one foreclosure filing for every 86 households — or 1.2 percent of households – ranked 14th among the states.
Florida foreclosure activity remained relatively flat in 2006, up just 2 percent from 2005, but the state’s foreclosure total still placed third highest among all the states. Florida reported 124,721 foreclosure filings during the year, a foreclosure rate of one foreclosure filing for every 59 households — or 1.7 percent of households. The state’s foreclosure rate dropped to seventh highest in 2006 after claiming the top spot in 2005.
Other states with 2006 foreclosure totals among the nation’s 10 highest included Ohio, Michigan, Georgia, Illinois, Colorado, New York and Indiana.
Detroit, Atlanta and Indianapolis report highest metro foreclosure rates.



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