Hampton Roads Foreclosure Activity May 2010 ~ Hampton Roads Real Estate Ramblings

Hampton Roads Foreclosure Activity May 2010

Sunday, June 13, 2010

Hello Hampton Roads,

According to a recent Pilot article, the Hampton Roads foreclosure activity has slowed down yet still remains high.  Last April showed 1738 foreclosure filing while there were 1563 in May. a decrease of about 10%.



For all 7 cities, foreclosure activity increased slightly in Virginia Beach and fell for the rest.  In terms of numbers of foreclosures, Portsmouth and Chesapeake showed the most while foreclosures were least prevalent in Newport News.

According to RealtyTrac & US Census data, Hampton Roads shows the following trends:

Virginia Beach
Total # households:  175,553
1 in every 429 housing units received a foreclosure filing in May 2010


Chesapeake
Total # households:  82,685
1 in every 342 housing units received a foreclosure filing in May 2010


Norfolk
Total # households:  95,642
1 in every 400 housing units received a foreclosure filing in May 2010


Portsmouth
Total # households:  43,073
1 in every 293 housing units received a foreclosure filing in May 2010


Suffolk
Total # households:  32,869
1 in every 383 housing units received a foreclosure filing in May 2010

 
Hampton
Total # households:  60,151
1 in every 425 housing units received a foreclosure filing in May 2010



Newport News
Total # households:  78,792
1 in every 497 housing units received a foreclosure filing in May 2010



Thanks for Reading,



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