Tulsa Ranked 58th in Foreclosures | Tulsa Homes | Tulsa Real Estate

August 12, 2011

During the first half of 2011, 1 in 98 households in Tulsa had a foreclosure. The Tulsa metro area landed as the 58th highest rate of foreclosure during the 1st half of 2011, even though the number of repossessed homes decreased as reported by RealtyTrac Inc.

The report stated that there were 4,152 filings in the Tulsa area, which is down 12.4% from the last half of 2010, which was 11.9%, and still below the first half of 2010.

Oklahoma City on the other hand had the 140th highest foreclosure rate in the United States, which is one for every 192 households. Foreclosures in the metro area decreased 12.8% from the last half of 2010 and 28.8% from the first half of 2010.

During the first half as reported by RealtyTrac one in every 111 household which is down 25.5% from the prior six months and down 29.27% from the first half of 2010.

CEO James Saccacio of RealtyTrac stated the decreases are not automatically good news.

?These dramatic decreases indicate the foreclosure pipeline continues to be clogged in many local markets across the country, sometimes by a glut of already-foreclosed properties that are not selling quickly, sometimes by a mountain of improperly filed foreclosures that are blocking the inflow of new foreclosure filings ? and sometimes by both,? he stated.

The highest rate of foreclosure in the country is still the Las Vegas with one in every 19 households. The Phoenix metro area sees one in every 28 households while three California areas Stockton, Modesto, and Riverside/San Bernardino/Ontario are at the top of the list.

Source: http://www.tulsarealestatemall.com/tulsa-ranked-58th-in-foreclosures/

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