Tulsa foreclosure rate continues to fall in January
BY ROBERT EVATT World Staff Writer
Friday, February 15, 2013
2/15/13 at 12:22 PM
The number of Tulsa-area homeowners defaulting on their loans continued to fall last month.
RealtyTrac Inc., a data service, reports that 491 foreclosure proceedings were initiated in January across metro Tulsa, resulting in a foreclosure rate of one for every 829 households.
That's 13.4 percent below December and 12.3 percent below January 2012.
By comparison, the national foreclosure rate of one for every 869 households was down 7.2 percent for the month and 28.5 percent from a year ago.
RealtyTrac noted that the national number represents a six-year low.
Oklahoma's rate of one for every 1,552 homes, down 16.2 percent for the month and 21.4 percent from January 2012, gives the state the 28th highest foreclosure rate in the nation.
Daren Blomquist, vice president of Irvine, Calif.-based RealtyTrac, said the nationwide drop was largely due to a new California law that imposes stricter standards on financial institutions seeking to foreclose on property owners.
"As a result, the downward foreclosure trend in California accelerated into hyper speed in January, decisively shifting the balance of power when it comes to the nation's foreclosure activity," he said. "For the first time since January 2007, California did not have the most properties with foreclosure filings of any state."
Florida had the highest number of foreclosures - 29,800 - filed in a single state.
Florida also logged the highest foreclosure rate in the nation, with one for every 300 homes, followed by Nevada, Illinois, Arizona and Georgia.
Foreclosures for January 2013
Total||Foreclosure rate||% change from|
|% change from|
U.S.||150,864||1 foreclosure per|
Oklahoma||1,067||1 foreclosure per|
Tulsa||491||1 foreclosure per|
Source: RealtyTrac Tulsa World
Original Print Headline: Tulsa foreclosure rate falls
Robert Evatt 918-581-8447