RealtyTrac: Half of Foreclosures in Only 6 States

Six states account for more than half the nation's foreclosures, according to RealtyTrac, an Irvine, Calif.-based company that claims the largest national database of troubled properties.Texas, Florida, California, Georgia, Ohio, and Illinois account for 37,249 of the 67,024 properties entering foreclosure nationwide in June, RealtyTrac said. The June total is a 7.4% increase from May's 62,432, and is the highest number so far this year. But RealtyTrac's chief executive officer, James Saccacio, said it is not cause for concern. "Tens of thousands of properties continue to fall into foreclosure each month, even in a generally strong real estate market," he said. The number of new repossessions in California was up 19% in June. But at the rate of one for every 2,773 households in the Golden State, that still represents less than two-thirds the national average of one repo per 1,726 households. In Texas, on the other hand, the foreclosure rate is 2.7 times the national average, or one per 636 households.