Phoenix, Los Angeles and Miami-Dade Pre Foreclosures Spike in June 2009

Los Angeles County (CA) has nearly 9,000 properties entering into foreclosure

Mt. Pleasant, PA (PRWEB) July 14, 2009 -- Default Research (www.defaultresearch.com), a trusted and premier provider of pre foreclosure listings, is reporting in their Metro Market Report™ that foreclosures on average increased 17 percent from May 2009 to June 2009.

Pre Foreclosure Table

Despite the jump from May to June 2009, our statistics show that the total number of filings has begun to decrease on the annual level

Although we did see a jump from May, the real estate market is improving with median home prices increasing while inventories continue to decline. The success of the government's stimulus package and of various foreclosure laws enacted across the nation has been a major contributing factor to the decline of pre foreclosure inventories.

"Despite the jump from May to June 2009, our statistics show that the total number of filings has begun to decrease on the annual level," said Serdar Bankaci, founder of Default Research. "Although we did see a jump from May, the real estate market is improving with median home prices increasing while inventories continue to decline. The success of the government's stimulus package and of various foreclosure laws enacted across the nation has been a major contributing factor to the decline of pre foreclosure inventories."

Counties   Monthly Change   Yearly Change   % of households
Los Angeles, CA   11.20%   11.20   -29.79%
Cook, IL   33.72%   NA   NA
Maricopa, AZ   33.08%   9.84%   4.45%
Orange, CA   -3.99%   -19.80%   3.37%
San Diego, CA   6.73%   -28.46%   4.76
Miami-Dade, FL   22.90%   -23.45%   4.8%
Riverside, CA   20.33%   -15.77%   9.62%
San Bernardino, CA   20.54%   -21.82%   8.39%

Data collection methodology
Default Research's Metro Market Report™ is an accurate breakout of the number of unique pre foreclosure filings per county. Individual properties are only counted once during the prior twelve month period, thus making the statistics more precise as opposed to counting each property every month. The report contains aggregations of notice of default, lis pendens and notice of trustee recordings from seven of the ten largest counties in the nation.

More about Default Research
Since 2004, Default Research has been providing the freshest and most accurate and statistics to real estate professionals and investors. Default Research's proven data collection and most efficient distribution methods result in pre foreclosure lists being available two to three weeks ahead of the competition. Based on extensive research about the continuing foreclosure crisis and the most effected regions, Default Research currently abstracts and reports data in these six critical states highest in foreclosures: Arizona, California, Florida, Illinois, Michigan, and Nevada. Default Research reports pre foreclosure documents days after being recorded. More information about Default Research can be found at its Web site: www.defaultresearch.com

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