Irvine, California-based RealtyTrac, an online provider of foreclosure data and a marketplace for properties in foreclosure, says foreclosure activity jumped 2-percent in the United States during the month of October.
In the company’s official “October 2007 U.S. Foreclosure Market Report,” RealtyTrac says foreclosure filings—which include default notices, auction sale filings and completed foreclosures—hovered at 224,451 filings in October. When compared to October of 2006, RealtyTrac says foreclosure filings last month were up 94-percent.

Despite some of the ominous statistics, James Saccacio, chief executive officer of RealtyTrac, recognized at least one positive trend.
“Overall foreclosure activity continues to register at a high level compared to last year, but it appears to have leveled off over the past two months after hitting a high for the year in August,” said Saccacio. “Default notices were down nearly 9-percent in October, indicating that some of the efforts on the part of homeowners, lenders and advocacy groups to find alternatives to foreclosure may be starting to have an impact. On the other hand, bank repossessions were up nearly 35-percent, evidence that more homeowners who enter foreclosure are losing their homes.”
With all real estate being local, RealtyTrac broke the statistics down by region and market. When evaluating foreclosure rates (filings per household), Nevada has the highest rate (one filing per 154 households) in the nation, followed by California (one filing for every 258 households) and Florida (one filing for every 273 households).
RealtyTrac says when counting foreclosure filings alone, California (50,401 filings), Florida (30,190 filings), and Ohio (17,276 filings) recorded the most filings during the month of October.
Click here to read the full report.