Stockton, CA Tops RealtyTrac Foreclosure List

Stockton, Calif., Detroit, and Las Vegas posted the three highest U.S. metropolitan foreclosure rates in the first half of 2007, according to RealtyTrac, an online foreclosure marketplace based in Irvine, Calif.The company's 2007 Midyear Metropolitan Foreclosure Market Report ranks the foreclosure rates of the nation's 100 largest metro areas. The foreclosure rates for the three cities were one filing for every 27 households in Stockton, one for every 29 households in Detroit, and one for every 31 households in Las Vegas, the company reported. "While foreclosure activity has skyrocketed over the past year in many cities, particularly in California, Ohio, and the Northeast, foreclosure activity seems to be subsiding in parts of Texas, South Carolina, and other states," said James J. Saccacio, RealtyTrac's chief executive officer. "Still, the overall trend is toward escalating foreclosure rates, with 82 of the top 100 metro areas reporting year-over-year increases in the number of homes affected by foreclosure." The rest of the top 10 cities were as follows: Riverside-San Bernardino, Calif.; Sacramento, Calif.; Denver; Miami; Bakersfield, Calif.; Memphis; and Cleveland. RealtyTrac can be found online at http://www.realtytrac.com.