Updated at 12:21 p.m., Friday, November 17, 2006
Hawai'i foreclosures nudge lowest in U.S.
Advertiser Staff
Hawai'i had one of the lowest foreclosure rates in the nation in October, though the number of homes in some stage of foreclosure is rising from a year earlier, according to RealtyTrac, an Irvine, California-based real estate researcher.RealtyTrac determined there were 65 properties entering some stage of foreclosure in Hawai'i last month. That worked out to one for every 7,085 households in the state, or 43rd lowest in the country, and compared with the one for every 1,001 households nationally.
The number of Hawai'i properties in foreclosure in October 2005 was 43, according to the company's data.
The company said Colorado had the highest foreclosure rate in October with one for every 327 households, followed by Nevada with one for every 389.
Vermont had the lowest rate at one for every 294,382 households.
The company said foreclosures nationwide are running 27 percent ahead of last year through the first 10 months of 2006. October showed the highest increase yet.
"Our data from the last three months shows that foreclosures are definitely trending upward, putting more pressure on an already strained housing market," said James Saccacio, RealtyTrac chief executive officer, in a news release.
RealtyTrac monitors properties entering some stage of foreclosure, including notice of defaults, auction notices or notice of sales and those that have been foreclosed upon and repurchased by lenders.
