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The Honolulu Advertiser
Posted on: Saturday, November 11, 2006

Honolulu's foreclosure rate is near the bottom

Advertiser Staff

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Honolulu had the third-lowest foreclosure rate in the third quarter of 100 U.S. metropolitan areas reviewed by RealtyTrac, an Irvine, Calif.-based company that monitors properties entering some stage of foreclosure.

Honolulu had a rate of one foreclosure for every 3,068 homes in the July-September period. That was online higher than Richmond, Va., and part of the Maryland suburbs surrounding Washington.

RealtyTrac said there was a "marked increase" in properties entering some stage of foreclosure during the quarter. The company said it appeared a number of factors, including a slowdown in home sales, lower home appreciation and higher payments for adjustable-rate mortgage holders, were contributing to the increase.