Utah Foreclosures on the decline!

Posted at 11:05 AM, Aug. 24, 2007

U.S. foreclosure activity increased more than 93 percent from July 2006 to July 2007, but at the same time, foreclosure activity in Utah actually dropped more than 58 percent, according to July 2007 data from RealtyTrac. In fact, this is the six month in a row that Utah has seen double-digit decreases in its foreclosure activity. Since January, Utah has also dropped from being the state with the 13th-highest number of foreclosures to being No. 23 in foreclosures. RealtyTrac reported that Utah was only one of seven states that had year-over-year declines in foreclosure activity. Of those seven states, Utah posted the largest decrease.

“States like Texas, South Carolina and Utah have seen slow but steady price appreciation over the past five years, making them much more attractive and affordable,” said James J. Saccacio, chief executive officer of RealtyTrac, in a prepared statement.

In Utah, Weber County had the highest foreclosure rate in July, with Salt Lake County and Wasatch coming in at No. 2 and No. 3 respectively. Many smaller counties — Box Elder, Carbon, Garfield, Juab, Kane, Millard, Morgan, Rich, Sanpete and Sevier — actually had zero foreclosure filings for the month. County

taken from the Utah Association of Realtors newsletter.