Sun Belt foreclosures dominate list

IRVINE, Calif., July 30 (UPI) -- U.S. foreclosure marketplace researcher RealtyTrac said Sun Belt states have maintained their top ranking as the busiest foreclosure activity areas.

Of the top 50 cities in terms of foreclosure activity in the first half of the year, 35 were in the states of California, Florida, Nevada and Arizona, RealtyTrac said Thursday.

On the other hand, more than 20 percent of the cities with above average foreclosure rates were in Oregon, Idaho, Utah, Arkansas, Illinois and South Carolina, suggesting a rise in unemployment-related foreclosures, RealtyTrac Chief Executive Officer James Saccacio said in a statement.

"As unemployment rates increase in different parts of the country, it's very likely that we'll see similar patterns develop elsewhere." he said.

Las Vegas led the nation with a foreclosure rate of 7.45 percent with one of 13 of its housing units receiving foreclosure notices between January and the end of June. In total, 58,691 foreclosure notices were sent concerning Las Vegas properties in those six months.

Cape Coral-Fort Myers, Fla., had the second highest rate at 7.2 percent.

The top 10 included six cities in California, two in Florida, one in Arizona and one in Nevada.