A national survey by Irvine, Calf.-based RealtyTrac, was released on Thursday. They say more homeowners underwent some step of foreclosure––ranging from an initial notice of default to outright repossession and sale––in the New Orleans, Baton Rouge, Houma-Thibodaux, Shreveport-Bossier City and Lafayette regions. They were among 154 of 206 metropolitan areas that RealtyTrac identified as having year-to-year increases in foreclosure activity. The company surveyed areas with populations of at least 200,000.
According to RealtyTrac:
- In the New Orleans-Metairie-Kenner area: 4,021 properties received a foreclosure-related notice in the first half of 2010, up 52 percent from the first six months of 209 and 7.9 percent from the second half of 2009. One out of every 111 homes received a notice in the first half of 2010. In RealtyTrac’s ranking, the area ranked 104th.
- In the Baton Rouge area: 1,817 properties were targeted by a notice during the first half of 2010, up 46.9 percent from a year ago and 10.3 percent from the second half of 2009. One out of every 180 homes received a notice in the first half of 2010. In RealtyTrac’s ranking, the area is 150th.
- In the Shreveport-Bossier City area: 739 properties received a foreclosure notice, up 47.5 percent from last year, but down 17.4 percent from the second half of 2009. One out of every 235 homes got a notice in the first half of 2010. The area is ranked by RealtyTrac as 165th among metro areas.
- In Lafayette: 430 foreclosure notices were issued during the first half of 2010, up 156 percent from the first half of 2009, but down 13 percent from the second half. One out of every 261 homes received notices in the first half of this year. The area is ranked 171st.
- In Houma-Thibodaux: 209 homes got foreclosure notices, up 186 percent from the first half of 2009 and 22.2 percent from the second half. One out of every 395 homes were given foreclosure notices in the first half of 2010. The area ranked 118th in the report.
RealtyTrac says four states––Florida, California, Nevada and Arizona––accounted for all top 20 metro foreclosure rates for the first half of 2010. The number one area was Las Vegas, which saw one in every 15 homes receiving a notice.
“The fragile stability achieved in many local housing markets hinges on improvements in the underlying economy, especially job growth,” said RealtyTrac CEO James Saccacio. “If unemployment remains persistently high and foreclosure prevention efforts only delay the inevitable, then we could continue to see increased foreclosure activity and a corresponding weakness in home prices in many metro areas.”