Irvine, California-based RealtyTrac, a provider of foreclosure information and a marketplace for REO/foreclosed properties, released Wednesday its third quarter 2007 Metropolitan Foreclosure Market Report, which shows the metropolitan areas of Stockton, California; Detroit, Michigan; and Riverside-San Bernardino, California, recording the highest foreclosure rates out of the 100 metropolitan areas surveyed.

“Although cities in just three states — California, Ohio and Florida — accounted for more than two-thirds of the top 25 metro foreclosure rates, increasing foreclosure activity was not limited to just a few hot spots,” said James J. Saccacio, chief executive officer of RealtyTrac. “In fact, 77 out of the top 100 metro areas reported more foreclosure filings in the third quarter than they had in the previous quarter. Still, there continue to be pockets of the country — most noticeably metro areas in the Carolinas, Virginia and Texas — that have thus far dodged the foreclosure bullet.”
The top ranking city, Stockton, California, reported one foreclosure filing for every 31 households during the quarter, while Detroit and Riverside-San Bernardino experienced one foreclosure filing for every 33 households and one filing for every 43 households, respectively.