The U.S. foreclosure rate in February was 3.4 percent of all homes with a mortgage, the same rate as the month before and down slightly from a year before when the rate was 3.6 percent. The U.S. mortgage delinquency rate in February was 7.3 percent, up slightly from the month before when the rate was 7.2 percent but down significantly from a year before when the rate was 7.8 percent.
Highlights from the report for February 2012:
- The five states with the largest number of completed foreclosures during the 12 months ending in February 2012 were: California (154,000), Florida (87,000), Michigan (64,000), Arizona (63,000) and Texas (58,000). These five states account for 49.4 percent of all completed foreclosures nationally.
- The percent of homeowners nationally who were more than 90 days late on their mortgage payments, including homes in foreclosure and REO, was 7.3 percent for February 2012 compared to 7.8 percent for February 2011, and 7.2 percent in January 2012.
- The five states with the highest foreclosure rates were: Florida (12.0 percent), New Jersey (6.6 percent), Illinois (5.4 percent), Nevada (5.0 percent) and New York (4.9 percent).
- The five states with the lowest foreclosure rates were: Wyoming (0.7 percent), Alaska (0.8 percent), North Dakota (0.8 percent), Nebraska (1.0 percent) and Montana (1.4 percent).
- Of the top 100 markets, measured by Core Based Statistical Areas (CBSAs) population, 33 are showing an increase in the year-over-year change in the number of foreclosures in February 2012, two less than in January 2012 when 35* of the top CBSAs were showing an increase in the year-over-year change in the number of foreclosures.
- Of the top 100 CBSAs, 61 have lower foreclosure rates than a year ago.**
| CBSA | February-2012 | ||||
|---|---|---|---|---|---|
| 90+ Delinquent | 90+ Delinquent Pct. Point Change from a Year Ago | Foreclosure Inventory | Foreclosure Inventory Pct. Point Change from a Year Ago | Completed Foreclosures (12 months ending Feb 2012) | |
| Chicago-Joliet-Naperville, IL | 10.7% | 0.3% | 6.3% | 0.5% | 15,054 |
| Los Angeles-Long Beach-Glendale, CA | 7.0% | -2.2% | 2.5% | -0.6% | 26,564 |
| Atlanta-Sandy Springs-Marietta, GA | 8.8% | -0.9% | 2.6% | -0.4% | 40,452 |
| New York-White Plains-Wayne, NY-NJ | 8.8% | 0.2% | 5.5% | 0.4% | 851 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 5.9% | -0.8% | 2.3% | -0.1% | 7,137 |
| Houston-Sugar Land-Baytown, TX | 5.2% | -0.3% | 1.6% | -0.1% | 17,071 |
| Phoenix-Mesa-Glendale, AZ | 7.1% | -4.0% | 2.7% | -1.9% | 48,115 |
| Riverside-San Bernardino-Ontario, CA | 9.7% | -3.7% | 3.4% | -1.2% | 30,856 |
| Dallas-Plano-Irving, TX | 5.1% | -0.1% | 1.5% | -0.1% | 11,868 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 4.8% | -0.8% | 1.8% | -0.4% | 12,280 |
| Philadelphia, PA | 5.8% | 0.3% | 2.7% | 0.2% | 4,040 |
| Seattle-Bellevue-Everett, WA | 6.5% | 0.1% | 1.5% | -0.8% | 8,734 |
| Denver-Aurora-Broomfield, CO | 4.2% | -0.7% | 1.4% | -0.5% | 10,765 |
| San Diego-Carlsbad-San Marcos, CA | 5.7% | -1.9% | 2.0% | -0.4% | 9,708 |
| Tampa-St. Petersburg-Clearwater, FL | 17.2% | 0.0% | 12.3% | 0.6% | 10,649 |
| Santa Ana-Anaheim-Irvine, CA | 5.2% | -1.5% | 2.0% | -0.3% | 6,804 |
| Baltimore-Towson, MD | 7.9% | 0.6% | 3.0% | 0.4% | 1,389 |
| St. Louis, MO-IL | 5.0% | 0.0% | 1.7% | 0.0% | 9,305 |
| Oakland-Fremont-Hayward, CA | 6.1% | -2.2% | 2.2% | -0.6% | 11,717 |
| Nassau-Suffolk, NY | 10.5% | 0.3% | 6.6% | 0.9% | 684 |
| Warren-Troy-Farmington Hills, MI | 5.6% | -1.7% | 1.8% | -0.9% | 15,399 |
| Portland-Vancouver-Hillsboro, OR-WA | 5.5% | -0.2% | 2.4% | 0.1% | 6,036 |
| Sacramento–Arden-Arcade–Roseville, CA | 7.2% | -2.6% | 2.6% | -0.8% | 15,464 |
| Edison-New Brunswick, NJ | 9.0% | 1.1% | 5.4% | 0.5% | 481 |
| Orlando-Kissimmee-Sanford, FL | 18.1% | -1.3% | 12.3% | -0.5% | 9,922 |
Source: CoreLogic Feb 2012
