RealtyTrac: Foreclosures Declined in June

Nearly 165,000 foreclosure filings were reported nationwide in June, down 7% from the level recorded in May but up 87% from that of a year earlier, according to RealtyTrac, an online foreclosure marketplace based in Irvine, Calif.The nation's foreclosure rate stood at one foreclosure filing for every 704 households, the company said in its June 2007 U.S. Foreclosure Market Report. (Foreclosure filings include default notices, auction sale notices, and bank repossessions.) "Foreclosure activity subsided somewhat in June after hitting a 30-month high in May," said James J. Saccacio, chief executive officer of RealtyTrac. "And the drop in activity was fairly broad, with 33 states reporting month-over-month decreases. Still, the foreclosure rates in most states remained substantially above last year's levels." RealtyTrac said Nevada, California, and Colorado recorded the highest foreclosure rates in June. The company can be found online at http://www.realtytrac.com.