PROVIDENCE – The number of foreclosure notices in Rhode Island dropped 25.2 percent in July compared with the same month last year, RealtyTrac Inc. said Thursday.
The Irvine, Calif.-based real-estate tracking firm said 378 properties in Rhode Island, or one in every 1,195 homes, received a foreclosure notice in July. The state’s foreclosure rate ranked 36th-highest among the 50 states.
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The number of notices filed in Rhode Island in July increased 15.6 percent compared with the previous month, RealtyTrac said.
Nationally, RealtyTrac said one in every 397 homes received a foreclosure notice in July, down 9.7 percent from a year earlier but up 3.6 percent from June 2010.
“July marked the 17th-consecutive month with a foreclosure activity total exceeding 300,000,” said James J. Saccacio, CEO of RealtyTrac. “Declines in new default notices, which were down on a year-over-year basis for the sixth-straight month in July, have been offset by near-record levels of bank repossessions, which increased on a year-over-year basis for the eighth-straight month.”
Nevada’s foreclosure rate remained highest among the states for the 43rd month in a row. One in every 82 housing units there received a foreclosure filing during the month – almost five times the national average. Other hard-hit states were Arizona, California and Florida.
Additional information is available at realtytrac.com.
